Bitcoin.de trading halted as German regulator rejects MiCA application

In an announcement on October 6, Bitcoin Group SE stated that the BaFin decision was a setback, but the company had prepared for such a possibility. The company is now reviewing the decision and has the option to file an objection or submit a new application in the future. Bitcoin Group SE is also working with regulated partners to resume trading services as quickly as possible.

Moritz Eckert, CEO of Bitcoin Group SE, emphasized that the priority is to implement the alternative operating model and keep customers informed. Bitcoin.de, which has over 1.1 million registered users, has been largely inactive since June 12, with its planned revamp to a brokerage offering over 100 cryptocurrencies, crypto swaps, and staking postponed pending MiCA authorization. The platform's previous trading system was switched off, and customer holdings were moved to new custody infrastructure.