Bitcoin.de Seeks New Model After BaFin Rejects MiCA Bid
6 Articles
6 Articles
Bitcoin.de Trading Still Frozen as Germany Rejects MiCA Request
Bitcoin Group SE says it is working on an alternative operating setup for its bitcoin.de platform after Germany’s financial regulator, BaFin, rejected an authorization application filed by its banking subsidiary, futurum bank AG, to operate as a crypto-asset service provider under the EU’s Markets in Crypto-Assets Regulation (MiCA). In an Oct. 6 announcement, the company [...]
BaFin Rejects Bitcoin Group SE MiCA Application
BaFin, the German federal regulator responsible for overseeing banking, insurance, and securities markets, rejected Bitcoin Group SE's application under MiCA, the European Union's comprehensive crypto-asset regulatory framework that came into full effect for crypto-asset service providers in December 2024.Read more...
BaFin rejected the MiCAR application from futurum bank AG, a subsidiary of Bitcoin Group SE linked to bitcoin.de, after more than 15 months of evaluation.With much of the trading of the platform suspended since June, the company proposes to rely on regulated partners to reactivate the service while facing declining revenues and a negative EBITDA.
BaFin denies MiCAR license to Bitcoin Group SE’s futurum bank, leaving bitcoin.de in limbo
BaFin's denial exacerbates Bitcoin Group SE's financial instability, prompting urgent strategic shifts and impacting Germany's crypto market dynamics. The post BaFin denies MiCAR license to Bitcoin Group SE’s futurum bank, leaving bitcoin.de in limbo appeared first on Crypto Briefing .
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