Bitcoin Group SE said Germany’s Federal Financial Supervisory Authority, BaFin, has rejected a crypto-asset service provider license application filed under the Markets in Crypto-Assets regulation, or MiCA, by its subsidiary futurum bank AG. The company said it is now reviewing alternative operating models and is looking to restore trading on Bitcoin.de as quickly as possible through regulated partners. Chief executive Moritz Eckert said the group had prepared for the possibility of a rejection and will now examine the decision, while keeping open the option to file an objection or submit a new application later. Bitcoin.de, operated by futurum bank AG, is a German crypto trading platform with more than 1.1 million registered users. The venue previously ran as a peer-to-peer marketplace and switched this year to a broker model, with plans to offer more than 100 cryptocurrencies, crypto-asset exchange services and staking. The new model had been scheduled to go live at the end of June, but was delayed while awaiting MiCA approval, and trading has been largely suspended since June 12.
Bitcoin Group SE said Germany’s Federal Financial Supervisory Authority, BaFin, has rejected a crypto-asset service provider license application submitted under the Markets in Crypto-Assets regulation, or MiCA, by its subsidiary futurum bank AG.
The company said it is assessing alternative operating models and is seeking to restore trading on Bitcoin.de as quickly as possible through regulated partners.
Company reviews decision and keeps next steps open
Chief executive Moritz Eckert said Bitcoin Group SE had prepared for the possibility that the application could be rejected. He said the company will now review the decision and may file an objection or submit a new application in the future.
Bitcoin.de launch plan was delayed while awaiting approval
Bitcoin.de is a German crypto trading platform operated by futurum bank AG and has more than 1.1 million registered users. The platform previously operated as a peer-to-peer marketplace and shifted this year to a broker model, with plans to offer more than 100 cryptocurrencies, crypto-asset exchange services and staking.
The new model had been scheduled to launch at the end of June, but was delayed while the company waited for MiCA authorization. Trading on the platform has been largely suspended since June 12.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
