Bitcoin Group SE Loses MiCAR Authorisation Shifts to Partner Model
Bitcoin Group SE has announced that its subsidiary, futurum bank AG, has been denied MiCAR authorisation by Germany's financial regulator, BaFin. This decision marks the end of the company's previous regulatory tolerance, forcing a shift in its operating strategy for Bitcoin.de.
The refusal of MiCAR authorisation means Bitcoin Group SE can no longer offer in-house crypto services through futurum bank AG. This setback raises regulatory risks and disrupts service continuity for Bitcoin.de users.
In response, the company is adopting a new partner-based model to continue operations. While this approach may introduce additional costs, dependencies, and timing risks, Bitcoin Group SE aims to resume trading on Bitcoin.de in the coming weeks.
Customer funds remain securely custodied during this transition, mitigating run risks. The company has not ruled out the possibility of appealing the decision or reapplying for regulatory approval in the future, though the outcomes and timelines remain uncertain.