Vienna-based crypto exchange Bitpanda has secured a virtual asset service provider (VASP) license in Norway as it continues its expansion in Europe.
Bitpanda stated they had been granted a VASP license in Norway in a post on X on October 19. The exchange is the first non-local organization to accomplish this milestone.
A VASP license is a formal approval from a regional regulatory body that permits users to offer services associated with virtual assets. Since then, several European nations have enacted rules forcing VASPs to get licenses amid worldwide regulatory uncertainty.
The VASP license, according to the article, will be important in bolstering the exchange’s standing as the most stringently regulated broker in Europe and opens possibilities to extend safe and secure digital asset trading services to a substantial new customer base.
Currently, Bitpanda is authorized in Austria, Germany, France, the Czech Republic, and Sweden. Bitpanda claimed it had become the first fully regulated European cryptocurrency exchange in Germany in a press statement dated November 23 last year.
The license, like the one in Norway, will be a significant step toward building a fully regulated environment for cryptocurrency investments in Europe, the exchange claimed at the time.
