Bitcoin Group SE: BaFin rejects MiCA application, platform trading suspended and seeks regulated partners

Cryptocurrency asset platform operator Bitcoin Group SE stated that the Federal Financial Supervisory Authority of Germany (BaFin) has rejected its subsidiary futurum bank AG's application for a cryptocurrency service provider license submitted under the Markets in Crypto-Assets Regulation (MiCA). The company is evaluating alternative operating models and seeks to resume trading on Bitcoin.de as soon as possible through regulated partners.

Bitcoin Group SE CEO Moritz Eckert stated that the company was prepared for the application rejection and will now review the relevant decision, with the option to appeal or resubmit the application in the future. Bitcoin.de is a German cryptocurrency trading platform operated by futurum bank AG, with over 1.1 million registered users. Bitcoin.de was originally a peer-to-peer trading market and transitioned to a brokerage model this year, planning to offer over 100 cryptocurrencies, cryptocurrency asset exchanges, and staking services. The platform was originally scheduled to launch the new model at the end of June, but trading has been largely suspended since June 12 due to the delay in awaiting MiCA approval.