BaFin rejects Futurum Bank MiCA application, leaving bitcoin.de trading suspended
BaFin refused Futurum Bank AG's MiCA application, leaving bitcoin.de without its own licence and pushing operator Bitcoin Group SE towards a regulated-partner model.
Why it matters
The refusal leaves a platform with more than 1.1 million registered users without its own MiCA authorisation and forces Bitcoin Group SE to hand trading and custody to regulated partners. CryptoSlate flags timing as the main risk, saying a prolonged halt could push customers to other platforms, but no outlet quantifies an effect on volumes or prices. CryptoSlate also reports that the refusal ended what it calls BaFin's earlier tolerance of Futurum Bank's crypto services; no other outlet addresses that point.
Where the sources disagree
How much of the alternative operating model is public
Trading largely suspended since June, while the company awaited MiCA authorisation
Cointelegraph
Trading largely suspended since June 12
CryptoSlate
The rejection removed the legal basis to offer trading, which explains the suspension
Bitcoin Insider
One outlet says the restructuring details have not been fully disclosed, while the others describe the partner plan in outline without naming partners.
Key facts
BaFin refused Futurum Bank AG's application for authorisation as a crypto-asset service provider under MiCA.
Reported by Cointelegraph
Bitcoin Group SE said on Oct. 6 that it is reviewing the refusal and can lodge an objection or submit a new application.
Reported by Cointelegraph
Bitcoin.de has over 1.1 million registered users, according to the company.
1,100,000 usersReported by Cointelegraph
Trading on bitcoin.de is largely suspended, and CryptoSlate reports withdrawals remain available while trading and euro deposits are suspended.
Disputed figureReported by Cointelegraph
Bitcoin Group SE plans to resume trading through regulated partners, moving trading and custody to outside regulated firms.
Reported by Cointelegraph
Futurum Bank AG will keep holding customer assets until they are transferred to a new custodian, and existing logins and customer claims are unaffected.
Reported by CryptoSlate
Bitcoin Group said Futurum Bank AG applied for MiCA authorisation in June 2025 and the process was unresolved for more than 15 months.
Reported by CryptoSlate
NewsBTC reported that BNY has expanded its Digital Asset Custody platform to selected EU institutional clients under MiCA after The Bank of New York Mellon SA/NV was added to the MiCA register.
Reported by NewsBTC
What happened
BaFin, Germany's federal financial supervisory authority, refused Futurum Bank AG's application to become an authorised crypto-asset service provider under the EU's MiCA regime, as reported by Cointelegraph, Bitcoin Insider and CryptoSlate. Futurum Bank AG operates bitcoin.de and is a subsidiary of Bitcoin Group SE, which said in an Oct. 6 announcement that it is reviewing the decision, can lodge an objection or submit a new application later, and is working to resume trading through regulated partners as quickly as possible. Bitcoin.de, which the company says has over 1.1 million registered users, has largely stopped trading; CryptoSlate reports that customers can still withdraw crypto, that euro deposits and trading are suspended, and that Futurum Bank will hold assets until they move to a new custodian. The sources differ on the sequence: Cointelegraph dates the suspension to June, while the application was still pending, and CryptoSlate gives June 12 as the start and says Bitcoin Group stated Futurum Bank applied in June 2025 and the process ran unresolved for more than 15 months. Bitcoin Insider, the only outlet of the four to frame the suspension as a consequence of the refusal, says bitcoin.de now lacks the legal basis to offer trading services under MiCA and that restructuring details have not been fully disclosed. In separate coverage, NewsBTC reported that BNY has extended its Digital Asset Custody platform to selected EU institutional clients under MiCA after its European banking entity was added to the MiCA register; that report does not mention bitcoin.de.
How the story developed
- Official statement
Bitcoin Group SE announces BaFin refused the MiCA application
The group called the decision a setback, said it had prepared for a refusal, and said it can lodge an objection or submit a new application.
- First report
First report by Cointelegraph
Bitcoin.de trading remains halted as German regulator rejects MiCA application
- Update
Cointelegraph reports the refusal and the bitcoin.de trading halt
First of the four reports, describing trading as largely suspended since June while the operator awaited authorisation.
- Independent corroboration
Independently corroborated by CryptoSlate
MiCA rejection forces German crypto platform into operational overhaul
- Update
CryptoSlate details the partner-based operating model
Reports withdrawals stay open, trading and euro deposits stay suspended, and that the MiCA application filed in June 2025 went unresolved for more than 15 months.
- Update
NewsBTC reports BNY's EU custody expansion under MiCA
A separate story: BNY extends its Digital Asset Custody platform to selected EU institutional clients after its European banking entity joined the MiCA register.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 7 Oct 2026, 01:48 UTC: Cointelegraph — 1 independent source, 1 reports
- 7 Oct 2026, 04:10 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 8 Oct 2026, 16:20 UTC: CryptoSlate — 3 independent sources, 3 reports
- 8 Oct 2026, 21:00 UTC: NewsBTC — 4 independent sources, 4 reports
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Cointelegraph Crypto media | Bitcoin.de trading remains halted as German regulator rejects MiCA application | Original | |
| CryptoSlate Crypto media | MiCA rejection forces German crypto platform into operational overhaul | Independent | |
| NewsBTC Crypto media | BNY Expands Regulated Crypto Custody Across The European Union Under MiCA | Independent | |
| Bitcoin Insider Aggregator | Bitcoin.de Trading Stays Frozen After German Regulator Rejects MiCA License Bid | Syndicated |
Related events
Banks double presence on EU MiCA crypto register to nearly 23% share
Banks roughly doubled their count on ESMA's MiCA register to about 80 between late June and mid-September, lifting their share of listed crypto providers to nearly 23%.
ESMA and regulators in France, Germany and Greece question Binance over MiCA reverse solicitation
ESMA and national regulators in France, Germany and Greece are examining whether Binance properly relied on MiCA's reverse solicitation exemption to keep serving EU customers after July 1 without a licence.
EU financial supervisors warn quantum advances could weaken blockchain cryptography
EU financial supervisors warned that quantum advances could weaken blockchain cryptography before commercial quantum applications arrive, and urged an EU post-quantum migration strategy by end-2026.
Carlo Comporti Appointed ESMA Chair Effective November 1, 2026
The Council of the European Union confirmed Carlo Comporti as the new ESMA chair starting November 1, 2026, succeeding Verena Ross after her five-year term.
ESMA names AI and tokenization a Union-wide supervisory priority from 2027
ESMA said on Wednesday it will make AI and tokenization the first focus of a new Union-wide supervisory priority from 2027, with national regulators mapping client-facing uses and checking selected firms.
ESMA bars EU crypto providers from non-MiCA stablecoins with January 8, 2027 deadline and launches tokenized collateral consultation
ESMA ordered EU crypto firms to wind down services for non-MiCA stablecoins like USDT by January 8, 2027, while separately opening a consultation on tokenized collateral risks with a January 15, 2027 response deadline.