On October 6, BaFin rejected the MiCA authorization application from futurum bank AG, a subsidiary of Bitcoin Group SE, for providing crypto asset services. Trading on the Bitcoin.de platform, which has been mostly suspended since June 12, remains halted.

Bitcoin Group SE stated it is considering an alternative operating model for Bitcoin.de through regulated partners to resume services as soon as possible. The company is reviewing the regulator's decision and may file an objection or submit a new application in the future. "Our priority now is to implement an alternative operating model and transparently inform clients about the next steps," said Moritz Eckert, CEO of Bitcoin Group SE.

Transition from P2P to Brokerage Model Delayed

Bitcoin.de is a German crypto trading platform operated by futurum bank AG, a subsidiary of Bitcoin Group SE. According to the company, the service has more than 1.1 million registered users. Initially launched as a P2P marketplace, the platform was restructured this year toward a brokerage model with plans to offer over 100 cryptocurrencies, crypto swaps, and staking. The launch was expected at the end of June but was postponed pending MiCA authorization.

Custodial Infrastructure Updated, Old Engine Disabled

In an August update, Bitcoin.de reported that client crypto assets have already been migrated to new custody infrastructure, and the previous trading system has been disabled.