🇦🇹 Austria vs 🇩🇪 Germany: crypto licensing compared
Austria and Germany take recognisably different routes to crypto authorisation. In Austria the route is the MiCA CASP Authorisation granted by the Austrian Financial Market Authority (FMA) overseen by Finanzmarktaufsicht (FMA) Österreich; in Germany it is the MiCA CASP authorisation granted by BaFin under national law FinmadiG/KMAG; replaces the legacy KWG crypto-custody business licence, with a simplified transition for existing KWG-licensed firms. under BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator.. The two regimes differ on 7 of 9 tracked decision dimensions, including timeline to authorisation and local substance. The free columns below are open to everyone; the decision figures unlock with a pass, each one dated and sourced.
Austria: verified 2026-07-03 · Germany: verified 2026-07-03
| Dimension |
🇦🇹 Austria
partly open
Verified 2026-07-03
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🇩🇪 Germany
partly open
Verified 2026-07-03
|
|---|---|---|
| Licence type | MiCA CASP Authorisation granted by the Austrian Financial Market Authority (FMA) | MiCA CASP authorisation granted by BaFin under national law FinmadiG/KMAG; replaces the legacy KWG crypto-custody business licence, with a simplified transition for existing KWG-licensed firms. |
| Regulator | Finanzmarktaufsicht (FMA) Österreich | BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator. |
| Capital requirement | Austria capital requirement is locked. Unlock with the £349 pass. | Germany capital requirement is locked. Unlock with the £349 pass. |
| Timeline to authorisation | Austria timeline to authorisation is locked. Unlock with the £349 pass. | Germany timeline to authorisation is locked. Unlock with the £349 pass. |
| Local substance | Austria local substance is locked. Unlock with the £349 pass. | Germany local substance is locked. Unlock with the £349 pass. |
| Application cost | Austria application cost is locked. Unlock with the £349 pass. | Germany application cost is locked. Unlock with the £349 pass. |
| Ongoing cost | Austria ongoing cost is locked. Unlock with the £349 pass. | Germany ongoing cost is locked. Unlock with the £349 pass. |
| Passporting | Austria passporting is locked. Unlock with the £349 pass. | Germany passporting is locked. Unlock with the £349 pass. |
| MiCA CASPs approved | Austria mica casps approved is locked. Unlock with the £349 pass. | Germany mica casps approved is locked. Unlock with the £349 pass. |
| Key restrictions | Austria key restrictions is locked. Unlock with the £349 pass. | Germany key restrictions is locked. Unlock with the £349 pass. |
| Recent changes | Austria set 30 June 2026 as the end of its transitional regime (shorter runway than the EU default 1 July 2026 deadline), creating pressure for existing FM-GwG registered VASPs to secure full CASP authorisation; Bybit reported as licensed in Austria per exchange-tracking source | FinmadiG + KMAG in force 27 Dec 2024; Germany used a 12-month grandfathering (apply before 8 Oct 2025; effective end-2025). By mid-2026 the EU's #1 hub - ~57 CASP authorisations (~23% of the EU's ~244), incl. Trade Republic, N26, Commerzbank, Bitpanda. |
| Difficulty rating | Austria difficulty rating is locked. Unlock with the £349 pass. | Germany difficulty rating is locked. Unlock with the £349 pass. |
The two regimes differ on 7 of 9 tracked decision dimensions, including timeline to authorisation and local substance. Unlock the pass to see each figure with its source and verification date.
What changed recently
🇦🇹 Austria (verified 2026-07-02): Austria set 30 June 2026 as the end of its transitional regime (shorter runway than the EU default 1 July 2026 deadline), creating pressure for existing FM-GwG registered VASPs to secure full CASP authorisation; Bybit reported as licensed in Austria per exchange-tracking source
🇩🇪 Germany (verified 2026-07-01): FinmadiG + KMAG in force 27 Dec 2024; Germany used a 12-month grandfathering (apply before 8 Oct 2025; effective end-2025). By mid-2026 the EU's #1 hub - ~57 CASP authorisations (~23% of the EU's ~244), incl. Trade Republic, N26, Commerzbank, Bitpanda.
Quick answers
Who regulates crypto licensing in Austria and Germany?
Austria: Finanzmarktaufsicht (FMA) Österreich. Germany: BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator..
What licence do you need in Austria compared with Germany?
In Austria the authorisation route is MiCA CASP Authorisation granted by the Austrian Financial Market Authority (FMA); in Germany it is MiCA CASP authorisation granted by BaFin under national law FinmadiG/KMAG; replaces the legacy KWG crypto-custody business licence, with a simplified transition for existing KWG-licensed firms.. The comparison table on this page lines the two up dimension by dimension.
Where can I see the full Austria vs Germany comparison?
The interactive benchmark lets you pin either jurisdiction and add up to five peers; a Founder Pass or Pro subscription unlocks every gated figure with its source and verification date. This page stays free at /crypto/compare/austria-vs-germany.
Informational only, not legal advice. Every open figure carries its own verification date; verify with qualified counsel before acting.