Bitpanda Exec Slams MiCA: ’EU Regulatory Harmonization Still a Patchwork Quilt’

Europe's crypto rulebook promised unity—but delivers fragmentation. Bitpanda's leadership pulls no punches on MiCA's cross-border shortcomings.

The Compliance Maze No One Wanted

National regulators keep adding local tweaks to MiCA frameworks, creating compliance headaches for exchanges operating in multiple EU jurisdictions. 'Harmonization' looks increasingly like a marketing term.

Vienna vs. Berlin vs. Paris

Bitpanda's Austrian HQ faces different interpretations than German BaFin or French AMF. The result? Seven-figure legal budgets just to stay operational—costs inevitably passed to consumers.

The Institutional Freeze-Out

While Brussels pats itself on the back, traditional finance players watch from the sidelines. Why? Because no hedge fund will touch a market where rules change at every border crossing—not when they can park funds in US ETFs instead.

MiCA's growing pains reveal an uncomfortable truth: when 27 bureaucracies 'align', what emerges is regulation by committee—the worst kind of compromise. Meanwhile, crypto keeps innovating while the EU keeps debating font sizes in disclosure documents.

TLDR

• Bitpanda’s head of public affairs said MiCA enforcement remains inconsistent across the European Union.
• Despite MiCA’s goal of harmonization, national regulators continue to apply the rules differently.
• Bitpanda currently holds three MiCA licenses, the highest among EU crypto exchanges.
• Some regulators conduct strict institutional checks, while others are more flexible in their reviews.
• Bitpanda believes uneven enforcement creates an unfair playing field for crypto firms.

Despite the introduction of the Markets in Crypto-Assets Regulation (MiCA), regulatory differences continue to hinder uniformity across the European Union. Bitpanda’s head of public affairs, Benedikt Faupel, stated that MiCA’s goal of harmonization has not fully materialized. He emphasized that inconsistent enforcement by national regulators creates an imbalance in how crypto firms operate across the region.

Bitpanda Highlights Uneven MiCA Implementation Across Europe

Bitpanda, a Vienna-based crypto exchange founded in 2014, currently holds three MiCA licenses, more than any competitor. Faupel explained that MiCA replaced the need for 17 different national licenses with a single EU-wide framework. However, he noted that regulatory practices still vary widely between member states.

Faupel said some regulators impose stricter checks before issuing licenses, while others conduct in-depth reviews only when necessary. This inconsistency weakens MiCA’s intended harmonization and complicates compliance for firms operating across borders. He underlined that although expected with new regulations, this disparity needs urgent resolution.

According to Faupel, the MiCA framework still provides a strong legislative base for crypto markets across the EU. But he insisted that the current enforcement differences are limiting its effectiveness and fairness. Bitpanda believes closing this regulatory gap is essential for a competitive and mature crypto ecosystem.

Faupel Calls for Improved Reporting Standards Under MiCA

Faupel raised concerns about how regulatory authorities apply MiCA’s reporting requirements across jurisdictions. He said agencies often collect broad data sets without clear criteria on their usage or necessity. This inefficiency can increase operational burdens for compliant firms without adding regulatory value.

He also pointed out that more guidance on data reporting WOULD improve transparency and consistency across all member states. Bitpanda’s team continues to work with EU lawmakers to enhance the clarity of MiCA requirements. These efforts aim to create predictable and equal conditions across the market.

Bitpanda’s public affairs team regularly engages with policymakers in Brussels and national regulators in the countries where it operates. Faupel said their focus remains on ensuring that MiCA enforcement matches its legislative goals. He stressed that Europe’s crypto market can only grow if the framework is uniformly applied.

Bitpanda Expands Amid Regulatory Push

Despite challenges in MiCA enforcement, Bitpanda continues to expand operations across Europe. The firm has opened offices in Berlin, Bucharest, and London to strengthen its regional presence. It also partners with financial institutions to drive crypto adoption.

Reports indicate Deutsche Bank plans to offer crypto custody in collaboration with Bitpanda starting next year. This MOVE signals rising institutional confidence in MiCA’s regulatory stability.