MiCA's Implementation Challenges Highlighted by Bitpanda Executive

The EU's landmark Markets in Crypto-Assets (MiCA) regulation, while a significant step for the crypto industry, is facing inconsistencies in its implementation across member states, according to Benedikt Faupel, head of public affairs at Austrian crypto unicorn Bitpanda, in a direct interview with Cointelegraph.

Faupel noted a "kind of imbalance" as some national regulators demand exhaustive institutional examinations for licenses, while others delve deeper only when necessary. This creates an uneven playing field across the EU, a challenge that the industry must acknowledge and work to resolve for a truly harmonized market.

Despite these hurdles, Faupel considers MiCA a "good legislative act," but believes reporting requirements could be refined. Bitpanda's public affairs team is actively engaged in educating EU politicians and supervisors to foster a more mature and consistent regulatory environment for crypto. This ongoing dialogue is particularly relevant as Deutsche Bank reportedly plans to offer cryptocurrency custody services in partnership with Bitpanda starting next year. #MiCA
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#Harmonization
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#DeutscheBank
#Cryptocurrency
#Bitcoin
#DigitalAssets
#CryptoLicense
#EU