Austria’s FMA Revokes BTM Service GmbH’s Registration

The Financial Markets Authority (FMA) of Austria recently announced that it has withdrawn the registration of BTM Service GmbH as a virtual asset services provider, due to the company's request to expressly renounce it.

As a result, the crypto company is prohibited to conduct the exchanging of virtual currencies into fiat money and vice versa as well as conducting such transactions using 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.

Earlier this month, FMA has revoked the registration of ATIRA GmbH​ as a virtual asset services provider, due to its lapses in anti-money laundering and tarot financing obligations.