Bitpanda co-CEO Christian Trummer says the European Union’s Markets in Crypto-Assets framework (MiCA) has increased user confidence in regulated crypto platforms, with most customers preferring licensed providers over self-custody and private-key management. He argues that inconsistent enforcement leaves compliant firms at a competitive disadvantage because some companies continue serving European customers without MiCA authorization. MiCA’s grandfathering period for existing crypto service providers ended no later than July 1, after which the European Securities and Markets Authority (ESMA) directed national regulators to act against unauthorized firms and later sought stronger supervisory powers. The update adds to Bitpanda’s earlier account of MiCA-driven retail confidence: the company obtained authorizations from Germany’s BaFin in January 2025 and Austria’s FMA in April 2025, reported 7.4 million registered customers and €371 million in adjusted revenue for 2025, and announced a September 2026 partnership with Raiffeisen Bank International. Austria’s FMA fined Bitpanda €70,000 in August 2026 over white paper submission and marketing issues.