German financial regulator BaFin has officially rejected the MiCA license application from futurum bank AG. The subsidiary of Bitcoin Group SE operates Bitcoin.de, a platform with over 1.1 million registered users that is now facing severe setbacks. The regulator’s decision came after a licensing process that lasted more than 15 months following the initial application on June 27, 2025.
The impact immediately froze customer access. Trading services on Bitcoin.de have been almost entirely halted since June 12, 2026, while awaiting regulatory authorization. BaFin stated that futurum bank’s operational infrastructure and implementation readiness were insufficient to grant full authorization.
Seeking a Workaround Through Third Parties
Bitcoin Group CEO Moritz Eckert called the regulator’s decision a setback. The company rejected BaFin’s assessment and is currently exploring various follow-up options. The firm is weighing legal steps through a formal appeal or initiating a new MiCA application process.
Faced with the rejection, futurum bank is designing a business model with regulated entities in Germany. One partner will act as the transaction counterparty, while the second will handle the custody of customer crypto assets. The names of the two replacement entities have not yet been made public.
Eckert aims to restore trading operations in the coming weeks through the rollout of a rebuilt Bitcoin.de app. The platform, which started as a peer-to-peer exchange, is transitioning into a brokerage. Their product roadmap promises trading in more than 100 cryptocurrencies, swap features, savings plans, and staking services.
The Steep Cost of Operational Downtime
The operational halt took a heavy toll on the company’s finances throughout the first six months of 2026. Revenue plunged to €1.59 million, falling sharply from €3.78 million recorded during the same period last year. Financial filings showed an EBITDA loss of €3.25 million, tripling from the €1 million loss posted in the first half of 2025.
The company’s capitalization levels have so far cushioned the cash burn. As of June 30, 2026, Bitcoin Group held net crypto assets valued at €199 million, with an equity ratio of 71.8%.
Germany stands as one of the largest MiCA markets in the European Union, with 79 licensed crypto service providers as of late August. While dozens of competitors pursue new clients, Bitcoin.de has opted to hire outside firms to restart its halted transaction engine. Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
