MiCA rejection forces German crypto platform into operational overhaul

Bitcoin.de is rebuilding its operating model after German regulators rejected its MiCA authorization, forcing it to outsource trading and custody to outside partners.

BaFin refused the application filed by Futurum Bank AG, the Bitcoin.de operator, to become an authorized crypto-asset service provider under the European Union’s Markets in Crypto-Assets (MiCA) regime.

The decision also ended the regulator’s previous tolerance of Futurum Bank’s crypto services, while trading on the platform has already been largely suspended since June 12.

Customers can still withdraw crypto, though trading and euro deposits remain suspended. Futurum Bank will continue holding assets until they are transferred to a new custodian, while existing logins and customer claims remain unaffected.

Bitcoin Group said Futurum Bank had applied for MiCA authorization in June 2025, leaving the process unresolved for more than 15 months.

MiCA rejection forces a structural reset

After BaFin's rejection, the firm's management said it had prepared an alternative structure that would let it move quickly.

As a result, Bitcoin.de plans to keep its platform running through two regulated German institutions, with one acting as customers’ trading counterparty and another taking over crypto custody. The platform would retain its app, brand and customer interface while the licensed partners handle the regulated functions.