BaFin refuses MiCA licence for futurum bank, operator of Bitcoin.de, after more than 15 months
Serguey Asael Shinder1 min readGermany's Federal Financial Supervisory Authority (BaFin) has refused the application by futurum bank AG, the subsidiary of Bitcoin Group SE that operates the Bitcoin.de platform, for authorisation as a crypto-asset service provider under the EU's Markets in Crypto-Assets Regulation (MiCAR). Bitcoin Group disclosed the decision in an ad hoc announcement under Article 17 MAR on 6 October.
The application was submitted on 27 June 2025. After an advance notification, futurum bank expects formal service of the decision at any time. BaFin has pointed out that its previous tolerance of the bank's provision of crypto-asset services no longer applies.
Effect on Bitcoin.de. The company says the refusal has significant implications for the platform's business model. Because the authorisation process had already taken more than 15 months, management had prepared for a refusal; operational trading has been largely suspended since 12 June 2026.
The plan. futurum bank intends to sign a cooperation agreement with a regulated institution based in Germany, so that customers can resume trading through the renewed bitcoin.de app. That institution would initially act as customers' trading partner, while another regulated German party would act as custodian. futurum bank will keep custodying customer assets until they are moved to the new custodian, and says all customer claims remain intact.
Next steps. Bitcoin Group SE and futurum bank are reviewing the decision. An objection may be lodged within one month of notification, and futurum bank remains free to apply again in the future.