Bitcoin.de says BaFin rejected its MiCA bid, plans partner-run restart
In brief
- BaFin refused Futurum Bank AG's MiCA application, according to the company's disclosure.
- Bitcoin.de trading has been largely suspended since June 12; crypto withdrawals still work.
- Trading and custody would move to two unnamed regulated German institutions.
- The company hasn't set a firm date for trading to resume.
- Futurum Bank can object within one month of formal notification.
What the rejection changed
Futurum Bank applied for MiCA authorization in June 2025, according to Bitcoin Group, and the process sat unresolved for more than 15 months. The company says the refusal also ended the regulator's previous tolerance of Futurum Bank's crypto services.
Trading on the platform had already been largely suspended since June 12. Customers can still withdraw crypto, but trading and euro deposits remain suspended.
So what happens to customer funds? Futurum Bank will keep holding assets until they're transferred to a new custodian, per the company, and existing logins and customer claims aren't affected.
Two partners, one interface
After the rejection, management said it had prepared an alternative structure that would let it move quickly. The plan runs through two regulated German institutions: one would act as customers' trading counterparty, and the other would take over crypto custody.
Bitcoin.de would keep its app, brand and customer interface (the licensed partners would handle the regulated functions). The company, which says it serves more than 1.1 million customers, hasn't identified either partner or given a firm date for trading to resume. It said the agreements are being finalized and that restoring service remains a priority.
Bitcoin.de says the technical work for the relaunch is complete. By the company's account, regulatory implementation is now the main barrier to restoring full service.
The decision isn't final yet
Bitcoin Group and Futurum Bank are still reviewing the regulator's decision and can object within one month of formal notification. A fresh authorization application also remains possible, which leaves the company with more than one way back to a licensed setup.
The next milestones are a restart date, the return of euro deposits and the transfer of customer assets to the new custodian.
For now, trading stays shut.
Frequently asked questions
Can Bitcoin.de customers still withdraw their crypto?
Yes. The company says customers can still withdraw crypto, but trading and euro deposits remain suspended. Futurum Bank will keep holding assets until they're transferred to a new custodian, and existing logins and customer claims aren't affected.
How would Bitcoin.de operate under its new plan?
Bitcoin.de plans to run its platform through two regulated German institutions. One would act as customers' trading counterparty and the other would take over crypto custody. The platform would keep its app, brand and customer interface, while the licensed partners handle the regulated functions.
Is BaFin's rejection of Futurum Bank's MiCA application final?
Not necessarily. Bitcoin Group and Futurum Bank are still reviewing the decision and can object within one month of formal notification. A fresh authorization application also remains possible.
