Bitcoin.de Trading Halt Continues as German Regulator Rejects MiCA Application
Bitcoin Group SE is exploring alternative options for its Bitcoin.de trading platform after the German Federal Financial Supervisory Authority (BaFin) rejected its application for authorization under the Markets in Crypto-Assets Regulation (MiCA). The decision, announced on October 6, is a setback for the company, but it had anticipated the possibility of refusal. Bitcoin Group SE is reviewing the decision and may file an objection or submit a new application in the future.
The company is also working on ways to resume trading through regulated partners as soon as possible. Moritz Eckert, CEO of Bitcoin Group SE, stated that the priority is to implement an alternative operating model and keep customers informed about the next steps.
Bitcoin.de, a German crypto trading platform operated by futurum bank AG, has over 1.1 million registered users. It originally launched as a peer-to-peer marketplace and later transitioned to a brokerage model. The platform had planned to offer more than 100 cryptocurrencies, crypto swaps, and staking, but its launch was postponed while awaiting MiCA authorization.
Trading activities on Bitcoin.de have been largely suspended since June 12, 2024. In August, the platform announced that customers' crypto holdings had been moved to new custody infrastructure, and its previous trading system had been switched off.