EY Law Austria has advised WhiteBIT EU on its successful licensing procedure as a Crypto-Asset Service Provider ("CASP") in Austria. The granting of the license under the Markets in Crypto-Assets Regulation ("MiCAR") marks an important milestone in the development of WhiteBIT's European presence and provides a regulatory basis for its future activities in the European Economic Area.
WhiteBIT Expands Its European Presence
WhiteBIT is one of the largest internationally active crypto platforms and offers a broad range of digital asset services, including trading, custody and other innovative crypto-asset services. With the establishment of WhiteBIT EU and the successful MiCAR licensing, the company has taken an important strategic step toward further strengthening its position in the European market.
Licensing under MiCAR underscores WhiteBIT's commitment to offering its services within a harmonized European regulatory framework and to consistently implement regulatory requirements relating to governance, compliance, customer protection and operational resilience.
Austria as a Sophisticated Location for Crypto and FinTech Companies
Austria, and Vienna in particular, continues to gain importance as a location for international crypto and FinTech companies. The European MiCAR framework introduces a harmonized rulebook for crypto-asset service providers across the European Union, while Austria is widely seen as a well-established supervisory jurisdiction with high standards for regulatory substance, governance and compliance.
"The MiCAR licensing of WhiteBIT EU demonstrates that international providers are increasingly choosing Vienna as a strategic EU location for regulated crypto activities. Particularly in a demanding supervisory environment, a robust regulatory structure is a key success factor for sustainable market participation," says Dr. Martin Hanzl, Partner at EY Law and Head of the NewTech team.
Support by EY Law
EY Law's NewTech team supported WhiteBIT EU throughout the entire licensing procedure. The advice included, in particular, regulatory structuring, comprehensive guidance in connection with the licensing process, coordination with the Austrian Financial Market Authority, and advice on key MiCAR requirements in the areas of governance, compliance and operational requirements.
"EY Law supported us throughout the entire MiCAR licensing process with exceptional regulatory expertise, strong strategic guidance, and outstanding execution capabilities. Particularly valuable was their combination of a deep understanding of our business model, clear navigation through the supervisory process, and solution-oriented support in implementing the regulatory requirements. The collaboration with the team of Dr. Martin Hanzl was a key success factor for WhiteBIT EU on its path to MiCAR licensing—especially in a challenging environment and we would choose to work with Dr. Martin Hanzl’s team again at any time,” said the CEO of WhiteBIT EU.
The project was led by Dr. Martin Hanzl and involved, in particular, Dr. Elisabeth Reiner (Regulatory / AML), Ricards Zvejnieks (AML/AFC), Bernhard Kainz (DORA), Alexander Glaser (Regulatory), Paul Neubauer (Regulatory) and Oliver Posani (Regulatory).
FinTech and Crypto Expertise
The NewTech team led by Dr. Martin Hanzl advises FinTech companies and international crypto exchanges on regulatory and legal matters. Its areas of focus include, in particular, blockchain technologies, crypto-assets and applications in the field of artificial intelligence. The team also supports the implementation of key European legal frameworks, including MiCAR, DORA, the AI Act and the Data Act, and advises innovation-driven companies on the legally compliant structuring of their business models.