ATIRA GmbH to Fight the License Revocation Decision Issued by Austria’s FMA

Fazzaco has reported Austria's Financial Markets Authority (FMA)'s decision to revoke the registration of ATIRA GmbH​ as a virtual asset services provider last week, due to ATIRA GmbH’s lapses in anti-money laundering and tarot financing obligations.

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Today, Fazzaco learned from ATIRA GmbH that it is in ongoing consultation with its legal representatives and has already instructed them to lodge an appeal against the decision issued by the FMA and to exhaust all legal instruments to which it is entitled to fight the decision in full.

ATIRA GmbH mentioned that due to the ongoing proceedings, it cannot provide any substantive explanations with regards to the FMA's allegations on which the decision is based.

"From the point of view of ATIRA GmbH, the decision is in any case riddled with material and formal errors. It is vehemently stated that even before the registration obligation of service providers with regards to virtual currencies, ATIRA GmbH had comprehensive regulations and measures in place to comply with the due diligence obligations for the prevention of money laundering and terrorist financing. The associated processes were also continuously adapted and optimized."the company stated.

"As part of the registration procedure of ATIRA GmbH pursuant to section 32a (1) FM-GwG (the Austrian law for the prevention of money laundering), ATIRA GmbH has disclosed its internal rules and regulations as well as its comprehensive set of measures to comply with due diligence obligations for the prevention of money laundering and terrorist financing to the FMA and these, in turn, were accepted, resulting in the issuance of ATIRA’s license by the FMA on 4th of June 2020,"ATIRA GmbH added.