BaFin Rejects Bitcoin.de Operator MiCA Application, Trading Suspended in Search of Partners

The Federal Financial Supervisory Authority (BaFin) of Germany has rejected the application for a crypto asset service provider license submitted by futurum bank AG, a subsidiary of the crypto asset platform operator Bitcoin Group SE, under the Markets in Crypto-Assets Regulation (MiCA). The company is evaluating alternative operating models and is seeking to resume trading on Bitcoin.de as soon as possible through regulated partners. Moritz Eckert, CEO of Bitcoin Group SE, stated that the company was prepared for the rejection of the application, will review the relevant decisions, and may file an objection or resubmit the application in the future. Bitcoin.de is a German crypto trading platform operated by futurum bank AG, with over 1.1 million registered users. The platform was originally a peer-to-peer trading market and transitioned to a brokerage model this year, planning to offer over 100 cryptocurrencies, crypto asset exchanges, and staking services. The platform was scheduled to launch the new model at the end of June, but trading has been largely suspended since June 12 due to the wait for MiCA approval.

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