Bitcoin.de Trading Reopens with Regulatory Oversight
Key Summary
Bitcoin.de trading remains halted after German regulator BaFin rejects application for crypto-asset service provider under Markets in Crypto-Assets Regulation (MiCA). The platform's operator, Bitcoin Group SE, is seeking an alternative operating model and reviewing the decision. Trading activities have been suspended since June, and the company is working on ways to resume trading through regulated partners as quickly as possible.
Background
Bitcoin.de is a German crypto trading platform operated by futurum bank AG, a subsidiary of Bitcoin Group SE. It has over 1.1 million registered users and offers more than 100 cryptocurrencies for trading. The platform was originally launched as a peer-to-peer marketplace but revamped its operations to operate as a brokerage.
Decision
The German Federal Financial Supervisory Authority (BaFin) has rejected the company's application for authorization as a crypto-asset service provider under MiCA. This decision has led to the halt in trading activities on the platform.
Response
Bitcoin Group SE is reviewing the decision and has the opportunity to lodge an objection or submit a new application in the future. The company is also working on ways to resume trading through regulated partners