No license: Picks by BaFin have
the German company Crypto.exchange GmbH has set on instructions of the BaFin with immediate effect its business. For unauthorized transactions are called as the reason. The BaFin to intervene to map the market and represents a quality indicator for financial service providers.
Who’d like to make financial transactions commercially in Germany, requires a license issued for it. The granting of this permission is the responsibility of the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), the regulatory authority for Finance of the Federal Republic of Germany. This license is missing it falls to the BaFin to sanction this violation.
This is what happened on last Monday, as BaFin the Berlin-based company Crypto.exchange GmbH a continuation of business forbade. The company had offered including bit coin for sale without the necessary authorization. BaFin itself released to following statement :
the BaFin of Crypto.exchange GmbH, Berlin, by decision of January 29, 2018 gave up, promptly discontinue the Finanzkomissionsgeschäft operated without permission.
The company recruited on the Internet – including on the page www.btc-now.de – thus, in euro exchange Bitcoin. It’s claimed to have been tested by the BaFin. Investors should transfer to the company their Bitcoins that stock exchange wanted to sell them in turn to a . The purchase price there should be referred to the investors within 30 minutes.
Thus, the Crypto.exchange GmbH operates the financial Commission business. The BaFin expressly clarifies that the company contrary to its own advertising without the required permission of the BaFin is working.
The disposal of the BaFin is immediately enforceable, but still not definitive by law.
A BaFin license can be considered great quality and confidence in the integrity of financial service providers. It is accordingly also linked large hurdles to get – a sum of such a licence in the five to six-digit euro range is to be paid.
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