BaFin Rejects Bitcoin Group SE’s Crypto License Application

Germany’s financial regulator BaFin has rejected Bitcoin Group SE’s application for a MiCAR license for its subsidiary, futurum bank AG, which powers the bitcoin.de trading platform. The decision, announced on October 6, 2026, came after a 15-month review period following the application’s submission on June 27, 2025. This rejection compounds existing challenges, as trading on bitcoin.de has been largely suspended since June 12, 2026, turning a temporary halt into a more severe operational hurdle.

The refusal highlights a critical regulatory hurdle: futurum bank AG already holds a banking license but requires separate MiCAR authorization to offer crypto services. BaFin’s denial marks the end of its prior tolerance of the subsidiary’s crypto operations. CEO Moritz Eckert described the decision as a significant setback but emphasized that the company had prepared for this outcome and is exploring alternative solutions.

Bitcoin Group SE reported revenue of €1.59 million and a negative EBITDA of €3.25 million for the first half of 2026, with expectations of continued financial decline for the full year. To address these challenges, the company plans to collaborate with regulated German partners to relaunch bitcoin.de through a technologically upgraded app. This model would split responsibilities between trading and custody services, with a targeted rollout within weeks. The company assures that customer assets remain secure during this transition.

The original expansion plans for bitcoin.de included support for over 100 crypto assets and enhanced features. However, the immediate focus is on stabilizing operations and mitigating financial losses. Investors and market watchers will be closely monitoring the success of the revamped platform, the identities of the regulated partners, and the company’s next financial update.