Regulatory AlertsAustria: crypto & digital assets regulation
RegulatedMiCAR implementation via FMA; VASPs licensed under FM-GwG
- Lead regulator
- Austrian Financial Market Authority (FMA)
- Also involved
- OeNB (prudential cooperation) · Financial Intelligence Unit (AML)
- Core law
- MiCAR Enforcement Act (MiCA-VVG) 2026
- Entry capital
- EUR 350,000 (VASP)
- Approval timeline
- 4-6 months
- Customer assets
- Segregated from own assets
- Data protection
- GDPR · DSB
- Sandbox
- No
Austria has transposed EU MiCAR via the MiCA-VVG, designating the FMA as the primary supervisor for crypto-asset service providers (CASPs). The regime integrates VASPs into the existing Financial Markets Anti-Money Laundering Act (FM-GwG) framework. The FMA oversees licensing, while the Oesterreichische Nationalbank (OeNB) cooperates on prudential matters. The legal landscape is now defined by EU Regulation 2023/1114 as implemented nationally.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Exchange / trading platform | LicenceVASP Licence[1][2] Requires MiCAR compliance and FM-GwG registration | EUR 350,000 | 4-6 months | FMA |
| Custody of client assets | LicenceVASP Licence[1] Custody is a core VASP activity under MiCAR | EUR 350,000 | 4-6 months | FMA |
| Token issuance / public offering | LicenceART/ATF Licence[1] Requires whitepaper approval for ARTs/ATFs | Varies by asset type | — | FMA |
| Broker-dealer / OTC desk | LicenceVASP Licence[1] Execution/placement services require VASP status | EUR 350,000 | 4-6 months | FMA |
| Stablecoin issuance | LicenceART/ATF Licence[1] Strict reserve and redemption rules apply | Varies by asset type | — | FMA |
| Crypto payments acceptance | LicenceVASP Licence[1] Crypto-to-fiat/fiat-to-crypto services | EUR 350,000 | 4-6 months | FMA |
| Mining / staking services | Uncertainverify with regulator MiCAR scope unclear for pure mining | — | — | — |
| Advisory / portfolio management | Uncertainverify with regulator Investment advice may fall under MiFID II | — | — | — |
New — what changed recently
- 2026-04-16MiCAR Enforcement Act (MiCA-VVG) — Formally designates FMA as competent authority and transposes EU MiCAR into Austrian law.[1]
- 2025-02-05Financial Markets Anti-Money Laundering Act (FM-GwG) — Updates AML framework to explicitly include virtual currency providers and align with EU standards.[2]
Market-entry checklist
- 1Register with FMA as VASPSubmit application for VASP licence under MiCA-VVG, demonstrating compliance with capital and governance rules.
- 2Implement FM-GwG AML FrameworkEstablish risk-based AML/CFT procedures and appoint a compliance officer as per FM-GwG requirements.
- 3Secure Minimum CapitalEnsure initial capital of at least EUR 350,000 is held and maintained for VASP operations.
- 4Prepare MiCAR WhitepaperDraft and submit asset-referenced token (ART) or e-money token (EMT) whitepaper for FMA approval if issuing.
Sources
- MiCAR Enforcement Act (MiCA-VVG) · 2026-04-16
- Financial Markets Anti-Money Laundering Act (FM-GwG) · 2025-02-05