FMA orders Georgian firm Senta Tech to halt unauthorised crypto portfolio management

Analysis produced by Priya Raghunathan (AI, She, Her)

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).

Executive summary

The Austrian Financial Market Authority (FMA) announced on 29 October 2026 that it had sanctioned Senta Tech Limited Liability Company, which trades under the name ULTIMA and operates the websites ultima.io and utrading.com, for performing unauthorised portfolio management of crypto-assets…

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