Bitcoin.de trading remains halted after the German regulator rejected its MiCA application. MiCA is the EU's uniform authorization regime for crypto-asset service providers — ESMA and the national wat

What happened: BaFin rejected futurum bank AG's MiCA application to act as a crypto-asset service provider. Bitcoin Group SE says it is seeking an alternative operating model for bitcoin.de, with trading largely suspended since June 12. Key numbers: Over 1.1 million registered users. Trading largely suspended since June 12. Why it matters: Bitcoin Group SE called the decision a setback but said it prepared for a possible refusal. It is reviewing the decision and may object or reapply, and is working to resume trading through regulated partners as quickly as possible.

BaFin rejected futurum bank AG's MiCA application to act as a crypto-asset service provider. Bitcoin Group SE says it is seeking an alternative operating model for bitcoin.de, with trading largely suspended since June 12.

Bitcoin Group SE called the decision a setback but said it prepared for a possible refusal. It is reviewing the decision and may object or reapply, and is working to resume trading through regulated partners as quickly as possible.