BaFin Rejects MiCA Licence for Bitcoin.de's futurum bank AG

BaFin Rejects MiCA Licence for Bitcoin.de Operator, Trading Remains Suspended

After a 15-month review, Germany's financial watchdog has turned down the MiCA licence application of futurum bank AG, the entity behind Bitcoin.de, leaving one of Germany's oldest crypto marketplaces without a clear path back to trading.

Germany's financial regulator BaFin has rejected the MiCA licence application filed by futurum bank AG, the parent entity operating the Bitcoin.de crypto marketplace, after a review that lasted 15 months. The decision leaves trading suspended on one of Germany's longest-running crypto exchanges and forces its listed parent, Bitcoin Group, to rework the platform's business model.

Bitcoin.de counts more than 1.1 million registered users and has operated in crypto trading for over a decade. Under the EU's Markets in Crypto-Assets regulation, however, futurum bank AG failed to secure the authorisation needed to continue offering its services within the current structure.

futurum bank AG retains the right to file an objection within one month of the decision being formally delivered, leaving open the possibility of a legal challenge to BaFin's assessment.

Financial pressure mounts

The regulatory setback lands at a difficult moment for Bitcoin Group. The company's revenue in the first half of 2026 fell sharply, from €3.78 million to €1.59 million, and management expects further declining revenues and a negative operating result for the full year.

A workaround in the making

Rather than wait for a resolution of the licensing dispute, Bitcoin Group is pursuing an alternative structure to get Bitcoin.de trading again. Under the plan, a regulated German institution would act as the trading partner for customers, while another licensed provider would take over custody of the cryptocurrencies themselves. Specific partners for either role have not yet been named.

Bitcoin Group chief executive Moritz Eckert said he hopes trading via a technically renewed Bitcoin.de app can resume within the next few weeks, pointing to the restructured partnership model as the route back into operation rather than a swift reversal of BaFin's decision.

For now, the suspension leaves Bitcoin.de's user base without access to trading on the platform, and the company's near-term prospects hinge on assembling the regulated partnerships it says are needed to resume service.

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