Bitcoin.de trading remains halted as German regulator rejects MiCA application
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin Group SE announced it is seeking an alternative operating model for its bitcoin.de platform after BaFin rejected its subsidiary futurum bank AG’s application for authorization as a crypto-asset service provider under the MiCA regulation. Trading on bitcoin.de has been largely suspended since June 12 due to this regulatory setback, and the company is reviewing BaFin’s decision with plans to potentially lodge an objection or submit a new application. CEO Moritz Eckert emphasized the priority of implementing the alternative model and keeping customers informed.
Why it matters
The refusal by BaFin to authorize futurum bank AG under MiCA means bitcoin.de cannot resume trading as planned, affecting over 1.1 million registered users and delaying expanded crypto services like staking and swaps. The source does not explicitly discuss wider market or policy impacts beyond these operational consequences.
Key context
Bitcoin.de, operated by futurum bank AG, transitioned from a peer-to-peer marketplace to a brokerage model with a broader range of services, planned for launch in late June. The launch was postponed awaiting MiCA authorization, and crypto holdings were moved to new custody infrastructure while the previous trading system was disabled. The trading halt began on June 12.
Key numbers and entities
Bitcoin Group SE, futurum bank AG, BaFin (Federal Financial Supervisory Authority), bitcoin.de platform with over 1.1 million registered users. CEO Moritz Eckert is the spokesperson mentioned.
What remains unclear
Details on why BaFin refused the MiCA authorization application, specific alternative operating models under consideration, timing for resuming trading, and the potential impact on users and partners remain unspecified.