BaFin denies Bitcoin.de MiCA license bid; trading remains on hold

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Germany's BaFin rejected futurum bank AG's MiCA license application, forcing Bitcoin.de to keep trading effectively paused while it explores regulated partner models and potential appeal or resubmission. The decision highlights regulatory execution risk under MiCA, particularly for platforms shifting to broker models and expanding services like staking. Near term, it may pressure European venue liquidity and increase compliance-driven uncertainty for regional crypto market access.
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Bitcoin Group SE said Germany's financial regulator BaFin has rejected a MiCA crypto-asset service provider license application filed by its subsidiary, futurum bank AG. The company said it is assessing alternative operating structures and aims to resume trading on Bitcoin.de as quickly as possible via regulated partners. CEO Moritz Eckert said the group had anticipated the possibility of a refusal and will review the decision. Options include lodging an objection or submitting a new application at a later date. Bitcoin.de, operated by futurum bank AG, has more than 1.1 million registered users. The German platform began as a peer-to-peer marketplace and shifted this year to a broker model, with plans to offer more than 100 cryptocurrencies, crypto-asset exchange services and staking. The revamped model was originally slated to go live by the end of June, but the launch was postponed pending MiCA clearance, and trading has effectively been suspended since June 12.