German Regulator Denies MiCAR License to Bitcoin Group SE, Subsidiary Halts Trading

Futurum bank: Futurum bank AG is a wholly owned German subsidiary of Bitcoin Group SE that operates the bitcoin.de crypto trading platform as a crypto-asset service provider. It had been seeking MiCAR authorization from BaFin while maintaining prior tolerance for its services. The denial of its application has required it to halt trading and shift to an alternative operating model via partnerships with other regulated German entities. Bitcoin Group SE: Bitcoin Group SE is a German holding company listed on the Düsseldorf Stock Exchange that focuses on crypto asset services through its ownership of trading platforms. Its primary operations involve bitcoin.de, which it has been realigning with a new technological platform ahead of expanded offerings. In this news, the company announced that its subsidiary's MiCAR application was denied, leading it to pursue alternative regulated partnerships for resuming operations. Business Response: Futurum bank AG is preparing cooperation agreements with regulated German partners to enable resumption of bitcoin.de trading through an adapted operational model in the coming weeks. Regulatory Development: BaFin refused the MiCAR authorization application submitted by Futurum bank AG, ending previous tolerance for its crypto-asset services under EU rules.