Bitcoin.de trading remains halted after BaFin rejects MiCA application

Bitcoin Group SE is exploring alternative operating models for its bitcoin.de platform after the German Federal Financial Supervisory Authority (BaFin) rejected its subsidiary futurum bank AG’s application for authorization as a crypto-asset service provider under the Markets in Crypto-Assets Regulation (MiCA). The decision, announced on October 6, was described as a setback, but the company had anticipated this possibility. 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 to resume trading through regulated partners as quickly as possible. Moritz Eckert, CEO of Bitcoin Group SE, stated that the priority is to implement the alternative operating model and keep customers informed about the next steps. Bitcoin.de, which has over 1.1 million registered users, has been unable to resume trading activities since June 12.

Originally launched as a peer-to-peer marketplace, bitcoin.de was revamped this year to operate as a brokerage. The platform planned to offer more than 100 cryptocurrencies, crypto swaps, and staking, with an expected launch in late June. However, the launch was postponed while futurum bank awaited MiCA authorization. In August, bitcoin.de announced that customers’ crypto holdings had been moved to new custody infrastructure, and its previous trading system had been switched off.