German regulator BaFin rejects Futurum Bank's MiCA application, leaving Bitcoin.de halted
German financial supervisor BaFin has denied a Markets in Crypto-Assets license to Bitcoin Group SE subsidiary Futurum Bank AG, forcing crypto platform Bitcoin.de to outsource operations to regulated partners to resume services.
Germany's Federal Financial Supervisory Authority, BaFin, has refused an application by Futurum Bank AG to become an authorized crypto-asset service provider under the European Union's Markets in Crypto-Assets (MiCA) framework, ending its previous regulatory tolerance of the bank's crypto services, CryptoSlate reported. Futurum Bank operates German exchange Bitcoin.de and serves as the banking subsidiary of Bitcoin Group SE, which applied for authorization in June 2025. Crypto Briefing reported that the rejection exacerbates Bitcoin Group SE's financial instability and is driving urgent strategic shifts.[3][2]
Trading on Bitcoin.de has been largely suspended since June 12 while the platform awaited regulatory approval, and euro deposits also remain halted. Cryptocurrency withdrawals remain functional, existing customer claims and account logins are unaffected, and Futurum Bank will continue holding user assets until they can be transferred to a new custodian.[3][1]
In response to the denial, Bitcoin.de is reorganizing to outsource regulated functions across two licensed German institutions, with one serving as the trading counterparty and the other taking over crypto custody. The exchange intends to retain its app, brand, and customer interface. While technical preparations for the relaunch are reportedly complete, the platform has not named the partner institutions or announced a resumption date for its more than 1.1 million users. Bitcoin Group and Futurum Bank have one month from formal notification to file an objection, and submitting a fresh application remains an option.[3][1]
Key facts
- BaFin rejected Futurum Bank AG's application for a crypto-asset service provider license under the EU's MiCA framework.
- Futurum Bank, the operator of Bitcoin.de and subsidiary of Bitcoin Group SE, originally submitted its MiCA application in June 2025.
- Trading and euro deposits on Bitcoin.de have been largely suspended since June 12, while crypto withdrawals remain operational.
- Bitcoin.de plans to restart operations by outsourcing trading counterparty and custody roles to two regulated German institutions while keeping its brand, app, and interface.
- Bitcoin.de claims more than 1.1 million customers but has not named its partners or announced a firm date for trading to resume.
- Futurum Bank and Bitcoin Group can formally object to BaFin's decision within one month or file a new application.
- Crypto Briefing reported that the license denial exacerbates Bitcoin Group SE's financial instability.
Sources · 3 sources
- CT
Coin TelegraphArticle ·
Bitcoin.de trading remains halted as German regulator rejects MiCA application Trading on the platform has largely been suspended since June as its operator awaited MiCA authorization, with the company now looking to regulated partners to restart services.
Open source - CB
Crypto BriefingArticle ·
BaFin denies MiCAR license to Bitcoin Group SE’s futurum bank, leaving bitcoin.de in limbo BaFin's denial exacerbates Bitcoin Group SE's financial instability, prompting urgent strategic shifts and impacting Germany's crypto market dynamics. The post BaFin denies MiCAR license to Bitcoin Group SE’s futurum bank, leaving bitcoin.de in limbo appeared first on Crypto Briefing .
Open source - CR
CryptoSlateArticle ·
MiCA rejection forces German crypto platform into operational overhaul Bitcoin.de is rebuilding its operating model after German regulators rejected its MiCA authorization , forcing it to outsource trading and custody to outside partners. BaFin refused the application filed by Futurum Bank AG, the Bitcoin.de operator, to become an authorized crypto-asset service provider under the European Union’s Markets in Crypto-Assets (MiCA) regime. The decision also ended the regulator’s previous tolerance of Futurum Bank’s crypto services, while trading on the platform has already been largely suspended since June 12. Customers can still withdraw crypto, though trading and euro deposits remain suspended. Futurum Bank will continue holding assets until they are transferred to a new custodian, while existing logins and customer claims remain unaffected. Bitcoin Group said Futurum Bank had applied for MiCA authorization in June 2025, leaving the process unresolved for more than 15 months. MiCA rejection forces a structural reset After BaFin's rejection, the firm's management said it had prepared an alternative structure that would let it move quickly. As a result, Bitcoin.de plans to keep its platform running through two regulated German institutions, with one acting as customers’ trading counterparty and another taking over crypto custody . The platform would retain its app, brand and customer interface while the licensed partners handle the regulated functions. The shift would leave Bitcoin.de focused more heavily on technology, distribution and customer relationships, while regulated partners take responsibility for execution and custody. That structure could preserve the marketplace without requiring Futurum Bank itself to perform the activities BaFin declined to authorize. The company, which says it serves more than 1.1 million customers, has not identified either partner or given a firm date for trading to resume. It said the agreements are being finalized and restoring service remains a priority. Bitcoin Group and Futurum Bank are still reviewing the regulator’s decision and can object within one month of formal notification. A fresh authorization application also remains possible. Related Reading AscendEX shuts down after MiCA miss and warns some withdrawals may not be processed For now, the commercial pressure is on completing the partner agreements before the prolonged trading halt pushes more users elsewhere. Bitcoin.de says the technical work for the relaunch is complete, leaving regulatory implementation as the main barrier to restoring full service. The next milestones are a restart date, the return of euro deposits and the transfer of customer assets to the new custodian. The post MiCA rejection forces German crypto platform into operational overhaul appeared first on CryptoSlate .
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