Bitcoin.de trading halt continues after German regulator rejects MiCA application

Bitcoin.de, a major German crypto trading platform, remains unable to resume trading after the German Federal Financial Supervisory Authority (BaFin) rejected its application for authorization under the Markets in Crypto-Assets Regulation (MiCA). The decision was a setback for Bitcoin Group SE, the parent company of futurum bank AG, which operates Bitcoin.de. The group had prepared for the possibility of rejection and is now reviewing the decision, with the option to lodge an objection or submit a new application in the future.

The company is exploring alternative operating models to restore trading services as quickly as possible. Moritz Eckert, CEO of Bitcoin Group SE, emphasized the need to implement these alternatives and keep customers informed about the next steps. Bitcoin.de, which has over 1.1 million registered users, had planned to launch as a brokerage with expanded offerings, including more than 100 cryptocurrencies, swaps, and staking. However, these plans were put on hold while awaiting MiCA authorization.

Trading activities on Bitcoin.de have been largely suspended since June 12, after the platform moved customers' crypto holdings to new custody infrastructure and switched off its previous trading system. The company had initially launched as a peer-to-peer marketplace but had revamped its platform earlier this year to operate as a brokerage. The BaFin decision has forced the group to reevaluate its strategy and seek alternative paths to resume trading.