Bitcoin.de’s operator pursues partner model after MiCA refusal

Bitcoin Group’s subsidiary futurum bank AG is pursuing a replacement operating model for Bitcoin.de after BaFin refused its application for authorisation as a crypto-asset service provider under MiCA. The parent’s 6 October disclosure says the regulator’s previous tolerance of those activities no longer applies, shifting the intended trading restart towards regulated partners in Germany.[1][2]

The application was submitted on 27 June 2025, and operational trading had already been largely suspended since 12 June 2026. The refusal therefore affects the route back to service after an existing interruption. Bitcoin Group’s September update had described its rebuilt website and app as technologically ready, with a relaunch dependent on the licensing process.[1][3]

Trading and custody would sit with separate partners

Under the proposed arrangement, one regulated German institution would act as the customers’ trading counterparty and another regulated German party would provide custody. Bitcoin.de would supply the customer-facing technology and distribution channel. The October announcement describes an intended cooperation; it does not identify the partners or announce a completed migration.[1][2]

This division changes the contracts behind a familiar platform brand. Customers will need to know which entity executes their trades, which holds their assets and where each complaint or service query belongs. The decisive restart documents are the named counterparties, customer agreements, supported services and effective migration date.[1][2]

Chief executive Moritz Eckert said the company disagreed with BaFin’s assessment of the implementation of required measures and was reviewing the decision. Management targeted a restart through partners within weeks of its announcement. That remains a company objective. The company also said futurum bank would continue holding customer assets pending their transfer and that customer claims remained intact.[2]

Group results show pressure during the transition

Bitcoin Group’s first-half results show the commercial pressure surrounding the transition. Revenue fell to approximately €1.59 million from €3.78 million a year earlier, while negative EBITDA widened to €3.25 million from €1 million. The company attributed the performance to the weak crypto-market environment and investment in its realignment. These are group operating measures, separate from the customer-asset arrangements.[3]

The ad hoc disclosure allowed one month from notification to lodge an objection and said formal service of the decision was still expected. The public announcement date consequently cannot be used to calculate an exact objection deadline. An objection filing or restored permission would require a further confirmed development.[1]

Bitcoin.de’s customer notice dated 7 October, still displayed when checked on 20 October, says trading and deposits remain paused while crypto withdrawals remain available. The next commercial milestone is a named, operational partner arrangement with a confirmed restart date and clear customer migration instructions.[4]

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