On 20 August, flatexDEGIRO AG launched its crypto business in Austria. With this step, one of Europe’s leading online brokers expands its offering and now enables Austrian clients to trade around 20 different crypto assets in a simple and transparent manner.
With more than 3 million clients across 16 countries and approximately EUR 75 billion in assets, flatexDEGIRO is one of the largest retail brokerage groups in Europe. Through its platforms flatex, DEGIRO and ViTrade, the group executes more than 60 million transactions per year.
CERHA HEMPEL provided comprehensive legal advice to flatex on its market entry in Austria. A particular focus was on regulatory matters related to the new EU Markets in Crypto-Assets Regulation (MiCA). MiCA establishes, for the first time, a harmonised European legal framework for crypto-asset trading and allows providers licensed in one Member State to offer their services cross-border throughout the EU.
The CERHA HEMPEL team was led by Oliver Völkel, Partner and one of the leading experts on crypto regulation in Austria and Europe. Together with Jara Erhard, Associate in the Crypto & FinTech team, CERHA HEMPEL once again demonstrated its outstanding expertise at the intersection of financial market regulation and crypto assets.