A major European cryptocurrency exchange, Vienna-based BitPanda, has secured permission to offer its services in Norway, pioneering among foreign companies, and they already hold licenses in various European countries, including Germany, France, the Czech Republic, and Sweden.
BitPanda’s Deputy CEO, Lukas Enzersdorfer-Konrad, stated, “Over the last 12 months, we have been the only European provider to receive licenses in Germany, Sweden and Norway. We now have more than 4 million users and enable Europe’s leading financial institutions and neobanks to offer digital assets.”
In May 2023, Norway, not being an EU member, contemplated creating its own cryptocurrency regulations, due to doubts about the sufficiency of European rules.
On the flip side, regulatory challenges in Europe forced Gemini, a New York-based exchange, to halt operations in the Netherlands, while the UK’s Financial Conduct Authority increased its list of unregistered and potentially risky crypto providers by adding 143 companies.
The multi-country licensing of BitPanda and the regulatory hurdles faced by other exchanges underscore the complex and evolving nature of the cryptocurrency industry.