BaFin has announced that it’s investigating BitcoinWelt, a company that offers CFDs and forex trading services, which it said is not authorized in Germany.
A notice confirms that digital currency ATMs constitute banking business, meaning they fall within BaFin’s regulatory remit.
The regulators consider digitized securities to be a core aspect of their blockchain strategy for Germany in the future.
Neufund, one of the pioneers in the securities tokens has called it quits despite achieving moderate success in the field. It blamed regulators for lack of guidance.
German market regulator has warned the public against digital currency, stocks, forex and CFDs broker EasyTrade55 which it says isn’t licensed in Germany.
Germany’s financial market regulator has issued a cease order to KKT UG, a company that allows its clients to buy and sell cryptos and operates crypto ATM.
As more industries continue to adopt blockchain and cryptos, authorities are striving to keep up with Belgium, Germany, Japan and more making moves this week.
BaFin has been reportedly inundated with requests from at least 40 banks seeking to offer crypto custody services in Germany.
South African financial regulator has lifted an earlier warning against Karatbars controversial KBC Coin, saying that its products don’t qualify as financial products.