Austria will impose fines of up to 200,000 euros on crypto asset companies not registered with the country's regulators

With the new anti-money laundering (AML) regulations in force, cryptocurrency companies operating in Austria must apply for a permit from the national financial regulator. Applicants for the permit must prove to the Austrian financial regulator that they have sufficient capacity to run the business. As part of the plan, the Austrian Financial Markets Authority (FMA) will impose a fine of up to 200,000 euros on crypto asset-related companies that are not registered with the country's regulators. The rule falls within the scope of the fifth anti-money laundering directive (AMD 5), which defines crypto assets as "financial instruments".