Country Manual Cryptos Overview
Austria
BRP has updated its Country Manual Cryptos Overview for
Austria (Def, RS, BT & RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | No |
| New Position of the Authorities | Yes |
| Evolution of Expert’s Interpretation | Yes |
Regulatory Template, Regulatory Summary and Behaviour Template
Material changes
The Regulation on Crypto Asset Markets (MiCA) entered into force on 29 June 2023, and the provisions on the issuance, public offering and admission to trading of stablecoins is applicable as of 30 June 2024. The remaining provisions on crypto services are now fully applicable from 30 December 2024.
With the introduction of the European regime, which is directly applicable in the Member States, there is a unified set of rules for payment and utility token. However, security tokens are excluded from the scope of application and will remain subject to the rules on financial products (MiFID II).
Furthermore, according to Art. 59 MiCA, no person may provide crypto-asset-related services within the EU unless it is a legal person or other entity authorized as a CASP by the competent authority of the home Member State. Consequently, only authorized CASPs may provide crypto-asset services in or into the EU.
At the national level, MiCA is enforced by the MiCA-Verordnung-Vollzugsgesetz (“MiCA-VVG”). The FMA has already issued comprehensive guidance on the application of MiCA in Austria. This guidance describes in detail the application process, including the required documentation, legal basis and regulatory standards.
Non-material changes
With the introduction of MiCA, payment tokens and utility tokens are subject to the same rules. The Behaviour Template (BT) has been updated accordingly.
ESMA has already issued position statements on MiCA, in particular in relation to “reverse solicitation”. These considerations have been analysed and incorporated into the updated documents.
For more information, please contact us: info@brpsa.com
Geneva, April 14th, 2025