Austria's FMA revokes registration of virtual asset provider BTM Service

Wednesday 1 December 2021 11:07 CET | News

The Austrian financial supervisory authority has cancelled the registration of Germany-based crypto ATM provider BTM Service.

The move was further made at the request of the crypto company. Now, the company cannot offer any types of crypto to fiat or vice versa exchange services within the FMA’s jurisdictions. It can’t even operate Bitcoin vending machines.

Cryptocurrency companies operating in Austria mandatorily have to register themselves with the local financial markets authority. This led to the submission of applications from 40 prospective digital assets providers by the beginning of 2021, but licenses were granted to only 18 firms, Finance Magnates reported earlier.

The decision against BTM Service came only a week after the Austrian regulator revoked the registration of ATIRA GmbH as a virtual asset services provider, citing lapses in anti-money laundering and terror financing obligations.

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Keywords: cryptocurrency, AML, digital assets, CFT
Categories: DeFi & Crypto & Web3
Countries: Austria
This article is part of category

DeFi & Crypto & Web3