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Banking

12 July 2019
Otto Waechter Virtual currency regulation

Austria - Graf & Pitkowitz Rechtsanwalte GmbH

Austria has no domestic legislation that directly applies to virtual currencies, although operations using cryptocurrencies may fall under existing laws. For instance, platforms for purchasing crypto assets which settle payments in euros require a licence under the Payment Services Act 2018. Purely technical services would not be covered by these licensing requirements, but would most likely be captured by the requirement for a general trade licence necessary for carrying on a trade in Austria.

Author: Otto Waechter
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