Austria Compliance Report

Generated 2026-09-22

Partially Regulated

Regulatory Overview

Regulatory Status: Some rules exist but significant gaps; draft legislation or limited guidance
Key Regulator(s): Austrian Financial Market Authority, German Federal Ministry of Finance
Primary Legislation: the Transfer of Funds Regulation, TFR, Regulation of exchanges in Austria is now governed under the EU MiCA framework r, MiCA / Regulation (EU, Financial Markets Anti-Money Laundering Act (FM-GwG): Enforces AML/KYC for CASPs, Austrian Income Tax Act (EStG), § 27b: Taxes crypto as capital assets at 27.5% (
Travel Rule: Adopted — Threshold: Implemented
Tax Reporting: Short‑term holdings (≤ 12 months) in Austria are taxed at a flat rate of 27.5 %, not at the highest marginal rate of up to 55 %.. Long‑term holdings (> 12 months): Taxed at a reduced rate (up to 31%).

Key Facts

aml VASP Registration: There is no dedicated "custody license" per se. Instead, entities providing custody of virtual assets are classified as Virtual Asset Service Providers (VASPs) and are required to register with the Austrian Financial Market Authority (FMA). Scope: The FM-GwG defines "providers of services related to virtual currencies" to include "the safekeeping of virtual currencies for third parties" (i.e., custody). Fit and Proper Management: Key persons involved in the management must demonstrate their suitability and reliability. Robust AML/KYC Framework: Implementation of comprehensive policies and procedures for customer due diligence (KYC), transaction monitoring, risk management, and reporting of suspicious activities to the Financial Intelligence Unit (FIU). Internal Controls: Establishment of internal controls and risk management systems to prevent money laundering and terrorist financing. Designated AML Officer: Appointment of a dedicated officer responsible for AML compliance. Finanzmarkt-Geldwäschegesetz (FM-GwG): § 2 Z 22 FM-GwG defines virtual currency and § 32a FM-GwG outlines the registration requirements for providers of services related to virtual currencies. RIS - FM-GwG (German)
enforcement Titles III (ARTs) and IV (EMTs) of MiCA, covering stablecoins, will apply from 30 June 2024. The remaining provisions of MiCA for other crypto-assets and crypto-asset service providers will apply from 30 December 2024. E-money Tokens (EMTs) (Title IV of MiCA): Under MiCA as applied in Austria, stablecoins are split into (i) e‑money tokens (EMTs), defined as crypto‑assets that purport to maintain a stable value by reference to one official currency, and (ii) asset‑referenced tokens (ARTs), defined as crypto‑assets that purport to maintain a stable value by reference to one or several assets or values other than a single official currency (for example baskets of fiat currencies that are not legal tender, commodities like gold, or other crypto‑assets). The broad ‘any other value or right or combination thereof’ formulation is no longer the operative description for EMTs, which are now limited to one official currency, while ARTs cover the multi‑asset or non‑currency references. EMTs are considered e-money under the E-Money Directive (2009/110/EC) and its Austrian implementation, the E-Geldgesetz 2010. MiCA effectively extends the existing e-money framework to crypto-assets. Regulatory Reference: MiCA, Article 3(1)(5) and Title IV. Asset-Referenced Tokens (ARTs) (Title III of MiCA): ARTs are a new category specifically created by MiCA.
general Sanctioned Jurisdictions: Countries subject to comprehensive sanctions (e.g., North Korea, Iran, Syria, parts of Ukraine, Russia, Belarus for specific sectors/individuals). Designated Entities/Individuals within Jurisdictions: Even in non-sanctioned countries, transactions involving designated individuals, entities, or their controlled assets are prohibited. No onboarding of customers residing in comprehensively sanctioned jurisdictions. Prohibition on facilitating any crypto-asset transfers to or from designated persons or entities. Careful monitoring of IP addresses and other geographical indicators to prevent access from sanctioned areas. Under Austria’s FM-GwG, the FMA can impose administrative fines, including fines of up to €5 million or up to 10% of total annual turnover for legal entities, and up to €5 million for natural persons, for certain serious breaches, but the regime is subject to ongoing EU-law scrutiny and should be read in light of the latest applicable Austrian provisions and any court rulings. Legal Reference: FM-GwG, Sections 97-100. URL: RIS - FM-GwG (Check sections related to administrative penalties).
licensing Currently (Pre-MiCA Full Implementation): Partial, primarily AML/CFT-focused. Austria has a framework that primarily addresses anti-money laundering and counter-terrorist financing (AML/CFT) aspects, along with existing securities and tax laws that apply depending on the classification of the crypto asset. This means many crypto activities are not specifically regulated as financial services unless they fall under traditional definitions (e.g., a token classified as a security). Future (Post-MiCA Full Implementation): Comprehensive. With the phased implementation of MiCA, Austria's approach will become fully comprehensive, covering licensing, operational requirements, consumer protection, market integrity, and environmental aspects for a broad range of crypto-assets and service providers. Role: The primary regulatory body for financial services in Austria, including supervision of banks, insurance companies, pension funds, investment firms, and exchanges. Crypto Involvement: The FMA is responsible for the registration of Virtual Asset Service Providers (VASPs) under AML/CFT laws and will be the competent authority for licensing and supervising crypto-asset service providers (CASPs) under MiCA. It also provides guidance on the classification of crypto assets. URL: FMA Austria – Information on Crypto Assets Role: Responsible for fiscal policy, budget, and tax matters. Crypto Involvement: Sets and clarifies the tax treatment of cryptocurrencies. URL: BMF Austria
sanctions EU sanctions are based on a two-step legal process: a CFSP Council Decision under Article 29 TEU, followed by, where economic or financial measures are involved, a Council Regulation under Article 215 TFEU. Treaty on the Functioning of the European Union (TFEU) – Article 215. These treaties empower the EU to impose restrictive measures (sanctions) to achieve Common Foreign and Security Policy (CFSP) objectives. Asset Freezes: Prohibiting the use, transfer, or access to funds and economic resources of designated individuals, entities, or bodies. This directly applies to cryptocurrencies held by or transacted through VASPs. Travel Bans: Restricting entry into or transit through EU territory for designated individuals. Trade Restrictions: Embargoes on certain goods (e.g., arms, dual-use goods, luxury goods) or services. This includes restrictions on providing crypto-asset services to certain entities or in specific contexts. Sectoral Sanctions: Targeting specific economic sectors (e.g., finance, energy, transport). The EU has increasingly included prohibitions on providing crypto-asset services as part of its sectoral sanctions, particularly against Russia and Belarus. Russia: Extensive sanctions, including asset freezes, financial restrictions (e.g., SWIFT bans for certain banks, prohibitions on transactions with certain state-owned enterprises), and specific prohibitions on crypto-asset services.
securities The Austrian regulatory framework for cryptocurrencies and digital assets is primarily governed by the Securities Act (Wertpapiergesetz) and the Austrian Securities Supervision Act, which align with EU directives such as MiFID II. Austria adheres to the European Union's regulatory standards for securities, including those related to digital assets, through its implementation of MiFID II and the Markets in Crypto-Assets Regulation (MiCA). Cryptocurrency exchanges operating within Austria must obtain a licence from the Austrian Financial Market Authority (FMA) and comply with the Authority’s operational, capital‑adequacy and AML/CTF requirements. Exchanges must implement robust AML/KYC procedures, but identity verification is applied on a risk‑based basis rather than a blanket requirement for every user. The Austrian Financial Market Authority has the power to enforce penalties, including fines and suspension of licenses, for non-compliance with securities regulations. Cryptocurrency transactions in Austria are exempt from VAT, and income from cryptocurrency investments is taxed as income from capital assets at a flat 27.5% rate (KESt). A notable gap exists in the regulatory clarity surrounding Initial Coin Offerings (ICOs), which may expose investors to higher risks of fraud and market manipulation. The Austrian Securities Supervision Act - MIFID II
status Austrian Financial Market Authority (FMA): Main supervisory authority for crypto-asset service providers (CASPs), issuing guidance like roadmaps and information documents for applicants; accepts English documentation and operates a regulatory sandbox. Austrian National Bank (OeNB): Collaborates with FMA on supervision, researches financial stability impacts, and monitors crypto ownership via surveys. Austrian Ministry of Finance (BMF): Oversees taxation (e.g., 27.5% capital gains rate under § 27b EStG since March 2022) and regulatory sandbox; classifies crypto as intangible assets, not legal tender. Markets in Crypto-Assets Regulation (MiCA / Regulation (EU) 2023/1114 / MiCAR): EU-wide framework fully applicable end-2024; covers issuance, trading, transparency, disclosure, and CASP licensing/supervision. MiCA-Verordnung-Vollzugsgesetz (MiCA-VVG): National implementation, effective 20 July 2024; designates FMA as supervisor. Financial Markets Anti-Money Laundering Act (FM-GwG): Enforces AML/KYC for CASPs; no specific transaction value thresholds, but suspicious activity reporting required. Austrian Income Tax Act (EStG), § 27b: Taxes crypto as capital assets at 27.5% (from March 2022); covers mining, lending, etc. Historical: FMA AML regulations (2020) under Fifth Money Laundering Directive (AMD5) required registration for exchanges, wallets, etc., with fines up to €200,000.
tax Short‑term holdings (≤ 12 months) in Austria are taxed at a flat rate of 27.5 %, not at the highest marginal rate of up to 55 %. Long‑term holdings (> 12 months): Taxed at a reduced rate (up to 31%).
travel rule EU MiCA Regulation (EU 2023/1114) has replaced fragmented national VASP regimes with a harmonized CASP (Crypto-Asset Service Provider) authorization framework across all EU member states, including Austria. The 5th Anti-Money Laundering Directive (5AMLD/T5AMLD) VASP registration system is now superseded by MiCA's single EU-wide licensing regime, effective December 30, 2024.

Sources

This report is AI-generated from publicly available regulatory sources. Last updated: 2026-09-22. View full profile