Bitcoin.de Trading Halt Continues After German Regulator Rejects MiCA Application
Bitcoin Group SE is exploring alternative operating models for its bitcoin.de platform after Germany’s financial regulator, BaFin, rejected its application for MiCA authorization. The company described the decision as a setback but noted it had anticipated this outcome and is now reviewing the rejection to determine whether to file an objection or submit a new application later. Meanwhile, Bitcoin Group SE is working to restart trading through regulated partners as quickly as possible.
The rejection impacts bitcoin.de’s plans to operate under the EU’s Markets in Crypto-Assets Regulation (MiCA). The platform, which has over 1.1 million registered users, was transitioning from a peer-to-peer marketplace to a brokerage model. This shift included plans to offer more than 100 cryptocurrencies, along with features like crypto swaps and staking. However, trading on bitcoin.de has been largely suspended since June 12, as the platform moved customer holdings to new custody infrastructure.
The suspension of trading activities highlights the direct impact of regulatory approval on the platform’s operations. Bitcoin Group SE emphasized that the downtime was tied to the regulatory process rather than technical upgrades. The company is now focusing on implementing an alternative operating model while seeking to resume trading through other regulated channels.
For investors and customers, the next steps involve monitoring the company’s efforts to restart trading and the progress of its appeal process. The outcome will determine how quickly bitcoin.de can fully relaunch its intended brokerage services. The case also underscores the broader implications of MiCA authorizations for major retail crypto platforms operating in the EU.