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Germany’s Federal Financial Supervisory Authority, or BaFin, has rejected Futurum Bank’s application for a license under the EU’s Markets in Crypto-Assets framework, affecting local crypto trading platform Bitcoin.de, Cointelegraph reported.
As a result, trading services on Bitcoin.de, most of which have been suspended since June, are not expected to resume for the time being. Parent company Bitcoin Group SE said it may challenge the decision or reapply later, and is pursuing a plan to restart trading through a partner with regulatory approval. Bitcoin.de has more than 1.1 million users.