MiCA rejection forces German crypto platform into operational overhaul
Bitcoin.de is rebuilding its working mannequin after German regulators rejected its MiCA authorization, forcing it to outsource buying and selling and custody to exterior companions.
BaFin refused the applying filed by Futurum Bank AG, the Bitcoin.de operator, to grow to be a licensed crypto-asset service supplier below the European Union’s Markets in Crypto-Assets (MiCA) regime.
The choice additionally ended the regulator’s earlier tolerance of Futurum Bank’s crypto providers, whereas buying and selling on the platform has already been largely suspended since June 12.
Customers can nonetheless withdraw crypto, although buying and selling and euro deposits stay suspended. Futurum Bank will proceed holding belongings till they’re transferred to a brand new custodian, whereas current logins and buyer claims stay unaffected.
Bitcoin Group said Futurum Bank had utilized for MiCA authorization in June 2025, leaving the method unresolved for greater than 15 months.
MiCA rejection forces a structural reset
After BaFin’s rejection, the agency’s administration mentioned it had ready an alternate construction that might let it transfer rapidly.
As a outcome, Bitcoin.de plans to maintain its platform working via two regulated German establishments, with one appearing as prospects’ buying and selling counterparty and one other taking up crypto custody. The platform would retain its app, model and buyer interface whereas the licensed companions deal with the regulated features.
The shift would go away Bitcoin.de centered extra closely on expertise, distribution and buyer relationships, whereas regulated companions take accountability for execution and custody. That construction might protect {the marketplace} with out requiring Futurum Bank itself to carry out the actions BaFin declined to authorize.
The firm, which says it serves greater than 1.1 million prospects, has not recognized both associate or given a agency date for buying and selling to renew. It mentioned the agreements are being finalized and restoring service stays a precedence.
Bitcoin Group and Futurum Bank are nonetheless reviewing the regulator’s choice and might object inside one month of formal notification. A recent authorization utility additionally stays potential.
For now, the industrial stress is on finishing the associate agreements earlier than the extended buying and selling halt pushes extra customers elsewhere. Bitcoin.de says the technical work for the relaunch is full, leaving regulatory implementation as the primary barrier to restoring full service.
The subsequent milestones are a restart date, the return of euro deposits and the switch of buyer belongings to the brand new custodian.
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