Austria crypto regulators slap unlicensed operators with €200,000 maximum fine

Austria crypto regulators have announced that crypto firms cannot operate until they obtain a license from the nation’s financial watchdog as the new Anti-Money Laundering (AML) regulations came into effect. Cryptoassets however, do not fall under this regulation. They remain subject to European Securities and Markets Authority (ESMA) current restriction. Austria crypto regulators has also advised investors to always verify the company’s identity (identity details, country of establishment, etc.) Before investing and never to trust a company if it cannot be clearly identified. In other to supervise and ensure compliance with rules and regulations in the financial market, the Financial