Wednesday, September 23, 2020
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Germany’s BaFin Clarifies Licensing Process for Foreign Crypto Custodians

Germany’s Financial Supervisory Authority (BaFin) is clarifying how the country’s new cryptocurrency custody law will apply to firms that operate outside of Germany but still serve the German market.In its latest guidance released in January, the regulator said firms already custodying digital assets for Germans would not be penalized for

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BaFin Orders Gold-Backed Token Issuer and Alleged Ponzi Scheme to Cease-and-Desist

The German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order to Karatbit Foundation to immediately stop unauthorized business in Germany. BaFin alleges that Karatbit Foundation is issuing the KaratGoldCoin (KBC) without the necessary license, according to a Nov. 11 announcement.Karatbit describes itself as a provider of

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German’s Financial Regulator Bafin Cracks the Whip on UK’s Finatex Cross-Border Trading

The Federal Financial Supervisory Authority (Bafin), Germany’s financial regulator, has ordered the immediate cessation of Finatex’s signature cross-border trading on German soil. The regulatory authority published the news on its official website on November 10 citing a formal notice issued to the UK-based company on October 2 to terminate the

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German Financial Regulator BaFin Shuts Down Activity of British Crypto-Related Firm

The German Federal Financial Supervisory Authority (BaFin) has ordered partial cessation of activities by U.K.-based crypto-related firm Finatex Ltd., according to an official announcement published on BaFin’s website on Friday, Nov. 9.According to the BaFin’s notice, reportedly dated Oct. 2, Finatex Ltd. is ordered to “immediately” stop offering cross-border proprietary

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