FMA orders Georgian firm Senta Tech to halt unauthorised crypto portfolio management
Austria's FMA has publicly named a Tbilisi-based company it ordered to stop managing crypto-asset portfolios for Austrian clients without authorisation. The case is an early enforcement action under Austria's MiCAR implementing law and shows the FMA policing cross-border crypto services reaching into its market from outside the EU.
- The FMA ordered Senta Tech (ULTIMA), operating ultima.io and utrading.com, to cease unauthorised discretionary crypto-asset portfolio management in Austria.
- The administrative decision is dated 31 July 2026 and was announced in Austria's Digital Official Journal on 29 October 2026.
- The firm is based at Omar Khizanishvili Street No 264, Gldani District, Tbilisi, Georgia, outside the EU.
- The breach cited is Article 11 no. 3 MiCA-VVG with Article 59(1) and Article 3(1)(16)(i) of Regulation (EU) 2023/1114 (MiCAR).