Bitcoin.de, a German cryptocurrency trading platform operated by futurum bank AG, has suspended trading after the country's financial regulator rejected the company's application for authorization under the Markets in Crypto-Assets Regulation (MiCA).
The German Federal Financial Supervisory Authority (BaFin) denied futurum bank AG's application to operate as a crypto-asset service provider. Bitcoin Group SE, the parent company of futurum bank, announced the decision on October 6, describing it as a setback but noting the company had contingency plans in place.
The platform, which serves over 1.1 million registered users, has been unable to conduct trading since June 12. Bitcoin Group SE had transitioned bitcoin.de from a peer-to-peer marketplace model to a brokerage platform earlier this year, planning to offer more than 100 cryptocurrencies along with crypto swaps and staking services. The launch was postponed pending MiCA approval, and customer assets were moved to new custody infrastructure in preparation.
Bitcoin Group SE said it is reviewing BaFin's decision and retains the option to lodge an objection or submit a new application. The company is also exploring ways to resume trading through regulated partners. "Our priority now is to implement the alternative operating model and to keep our customers transparently informed about the next steps," said Moritz Eckert, CEO of Bitcoin Group SE.
