BaFin rejects Bitcoin Group SE's MiCA license bid; Bitcoin.de trading largely halted

Bitcoin Group SE said Germany's financial regulator BaFin has rejected a Markets in Crypto-Assets Regulation (MiCA) license application filed by its subsidiary, futurum bank AG, for authorization as a crypto-asset service provider. The company said it is assessing alternative operating models and working with regulated partners to resume trading on Bitcoin.de as quickly as possible. CEO Moritz Eckert noted the group had expected the outcome and is reviewing the decision, including whether to lodge an objection or submit a new application at a later date. Bitcoin.de, operated by futurum bank AG, is a Germany-based crypto trading platform with more than 1.1 million registered users. After starting as a peer-to-peer marketplace, the platform shifted this year to a broker model, with plans to list more than 100 cryptocurrencies and add crypto-asset exchange and staking services. Bitcoin.de had aimed to roll out the new model by the end of June. Trading was largely suspended from June 12, citing delays in securing MiCA authorization.