Nils Silinevics
Partner · AML & Crypto Compliance · Former FIU Investigator
WhiteBit is EU-based and passported into Austria under EU AML law. That means FMA (Financial Market Authority) has authority — and so do we. Swiss legal team with EU compliance expertise. 90%+ success rate.
WhiteBit is Lithuania-based → can serve Austrian customers under EU AMLD5 / MiCA
FMA requires crypto service providers to register — under Austrian implementation of AMLD5; FMA is strict and transparent
This matters because it determines which regulatory body has authority over your case — and whether you have a direct complaint path or need cross-jurisdictional legal action.
What this means for you: WhiteBit is EU-based and passported into Austria. That means FMA (Financial Market Authority) has authority — and so does the platform's home EU regulator. We can file complaints with both, increasing pressure on WhiteBit to resolve your case.
under BWG §1(1) Z15-16 (crypto custody license, added 2020), you can complain to FMA; also Austrian Banking Ombudsman (Bankenombudsmann)
Under Austrian Banking Act (Bankwesengesetz, BWG) + AML Act (Geldwäschegesetz 2023, FM-GwG), WhiteBit must conduct customer due diligence and can freeze accounts during AML investigations. However, they must also:
If WhiteBit doesn't meet these obligations, we escalate to FMA (Financial Market Authority) and file a formal legal submission. For a broader comparison of how Austria's rules stack up against other jurisdictions, see our AML laws by country reference.
crypto taxed as 'other income' (sonstige Einkünfte) — flat 27.5% (or 25% for corporations); no holding-period exemption
If your WhiteBit account is frozen, you may still need to declare your crypto holdings on your Austria tax return — even if you can't access them. Under Austria law, the tax obligation may apply regardless of whether the funds are accessible. We recommend consulting a Austrian tax advisor.
If the freeze causes you to miss a tax deadline, we can provide documentation for the FMA (Financial Market Authority) and tax authority explaining the situation.
A Austrian investor received a source-of-funds demand from WhiteBit after receiving a large crypto transfer. WhiteBit required full documentation under Austrian Banking Act (Bankwesengesetz, BWG) + AML Act (Geldwäschegesetz 2023, FM-GwG). We compiled a structured source-of-funds package with bank statements, exchange history, and FMA (Financial Market Authority)-compliant documentation. Funds were released within 3 weeks after our formal legal submission to WhiteBit's compliance team.
Details anonymized to protect client confidentiality. Swiss professional secrecy applies.
We analyze your WhiteBit account, transaction history, and Austria regulatory context to identify the exact trigger. Was it a Chainalysis risk flag? A sanctions screening match? A source-of-funds demand? Each requires a different strategy.
We prepare documentation compliant with Austrian Banking Act — not just WhiteBit's standard templates. This includes source-of-funds proof, transaction tracing, and any required FMA-specific forms.
We submit through WhiteBit's compliance channels — not standard support. Our submission is in German and references FMA guidelines. We coordinate with FMA even though WhiteBit is not registered.
We verify everything works and advise on preventing recurrence on WhiteBit. If WhiteBit doesn't respond within no statutory maximum; FMA expects 'timely' resolution — interpreted as 6-8 weeks, we escalate to FMA and pursue cross-jurisdictional action in Lithuania (EU) if needed.
Tell us what happened. A senior crypto compliance lawyer — not a chatbot, not a junior — will read your case and respond within 6 hours. Swiss professional secrecy applies from your first message.