BaFin Rejects futurum bank’s MiCAR Application as Bitcoin.de Trading Remains Largely Suspended

Germany’s Federal Financial Supervisory Authority, BaFin, has rejected futurum bank AG’s application for authorization as a crypto-asset service provider under the Markets in Crypto-Assets Regulation, or MiCAR.

Bitcoin Group SE disclosed the decision on October 6, 2026. The group said the operational trading business of its Bitcoin.de platform has been largely suspended since June 12, 2026.

The company is now pursuing two paths: it is reviewing the regulator’s decision, while futurum bank prepares an alternative operating model intended to resume trading through a renewed Bitcoin.de app.

Authorization decision leaves key questions for Bitcoin.de

The rejection concerns futurum bank AG, a Bitcoin Group SE subsidiary, and its application for MiCAR authorization as a crypto-asset service provider. The announcement did not state a reason for BaFin’s decision.

Bitcoin Group said its review will determine whether futurum bank should object to the decision. An objection could be filed within one month of formal notification, according to the company. It also said a new application may be submitted at a later date.

The decision arrives while Bitcoin.de’s operational trading activity remains largely suspended. The company identified June 12, 2026, as the start of that suspension, but did not provide a timetable for fully restoring trading.

Alternative model would rely on a regulated German partner

Futurum bank plans to establish a cooperation agreement with a regulated institution in Germany. Under the proposed model, trading would be enabled through the renewed Bitcoin.de app.

The plan remains preparatory. Bitcoin Group did not identify the prospective partner or say when an agreement might be completed, so the model should not be treated as a confirmed resumption date for the platform’s trading operations.

The development illustrates how authorization and operating arrangements can directly affect crypto trading venues. It also follows continuing regulatory discussions in other markets, including the CFTC’s proposed crypto market rules and a remaining gap around spot trading.

What happens next

Bitcoin Group’s immediate next step is to examine BaFin’s decision and select between an objection, a later new application, or both routes at different stages. The company is separately working on the partner-based operating model for Bitcoin.de.

For users and market participants, the material points are that trading has remained largely suspended, BaFin authorization was not granted, and no restart schedule has been announced. Further details will depend on the company’s legal review and progress toward a cooperation agreement.

The case also comes as firms and regulators address custody and market-structure requirements in multiple jurisdictions. In the United States, the SEC has proposed a crypto custody framework for investment advisers and funds.

Continue reading: CFTC’s proposed crypto market rules and a remaining gap around spot trading on BTCNews.

Continue reading: SEC’s proposed crypto custody framework for investment advisers and funds on BTCNews.

Sources

• Deutsche Börse / EQS News: EQS-Adhoc: Bitcoin Group SE: Bafin verweigert beantragte MiCAR-Zulassung der futurum bank AG
• Deutsche Börse / EQS News: EQS-News: Bitcoin Group SE: futurum bank AG bereitet alternatives Betriebsmodell für Bitcoin.de vor
• EQS News: Bitcoin Group SE: futurum bank AG prepares alternative operating model for Bitcoin.de
• Cointelegraph: Bitcoin.de trading remains halted as German regulator rejects MiCA application

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