BaFin Rejects MiCA Application Bitcoin.de Trading Remains Halted

Bitcoin Group SE is exploring new options for its bitcoin.de platform after the German Federal Financial Supervisory Authority (BaFin) rejected its subsidiary futurum bank AG’s application for authorization under the Markets in Crypto-Assets Regulation (MiCA). The decision, announced on Oct. 6, is a setback, but the company says it had anticipated this possibility. Bitcoin Group SE is reviewing the decision and may lodge an objection or submit a new application in the future. It is also working to resume trading through regulated partners as soon as possible.

Bitcoin.de, a German crypto trading platform with over 1.1 million registered users, operates under futurum bank AG. The platform originally started as a peer-to-peer marketplace and has since been revamped to offer brokerage services, including more than 100 cryptocurrencies, crypto swaps, and staking. However, the planned launch in late June was postponed while awaiting MiCA authorization.

In an August update, bitcoin.de confirmed that customers’ crypto holdings had been moved to new custody infrastructure and its previous trading system had been decommissioned. Trading activities have been largely suspended since June 12. Moritz Eckert, CEO of Bitcoin Group SE, emphasized that the priority now is to implement an alternative operating model and keep customers informed about the next steps.