BaFin rejects MiCA license for Futurum Bank and Bitcoin.de

Germany’s Federal Financial Supervisory Authority (BaFin) has rejected the MiCA license application for Futurum Bank AG, the subsidiary of Bitcoin Group SE that operates the Bitcoin.de platform. The rejection explains the ongoing operational halt of Bitcoin.de, which has seen trading largely suspended since June 12.

Bitcoin Group SE stated that the decision was anticipated and is currently reviewing whether to appeal the ruling or submit a new application. To maintain business continuity, the company is working to implement an alternative operating model that relies on collaborating with regulated third-party partners who hold the necessary authorizations.

The Markets in Crypto-Assets (MiCA) regulation serves as the primary framework for crypto-asset service providers (CASPs) within the European Union. While a MiCA license allows a provider to operate across all 27 EU member states via a passporting mechanism, the denial forces Bitcoin.de to restructure its services through external regulated entities.