Bitcoin Group is preparing a partner-based operating model after the license refusal. Trading on bitcoin.de had already been largely suspended since June.
Germany’s financial supervisor BaFin has rejected an application by futurum bank AG, the operator of bitcoin.de, for authorization as a crypto-asset service provider under MiCAR. Parent company Bitcoin Group SE said on October 6 that it is preparing an alternative operating model to restart trading through regulated German partners.
The refusal blocks the operator’s proposed route to providing crypto services under its own authorization. It did not cause a new trading shutdown on the day of the announcement: the company says trading had already been largely suspended since June 12, 2026.
License refusal follows the June trading suspension
According to Bitcoin Group’s regulatory disclosure, the application was filed on June 27, 2025. The company said BaFin’s previous tolerance of the crypto services no longer applies and that it was awaiting formal service of the decision. The application concerns crypto services under the European Union’s MiCAR framework.
In a separate company statement, CEO Moritz Eckert said:
“Bafin’s decision is a setback for us.”
Eckert said the regulator considered the implementation of required measures, and the further progress achievable in the short term, insufficient. Management disagrees with that assessment. That explanation of the refusal appears in the company’s October 6 statement.
The companies are reviewing the decision. Their disclosure says an objection can be lodged within one month of notification and leaves open the possibility of a fresh authorization application. It does not announce that either an objection or a new application has already been submitted.
Separate partners for trading and custody
Under the proposed structure, one regulated German institution would become customers’ trading counterparty. Another would hold their assets. Trading through a revamped bitcoin.de app would depend on establishing those arrangements and completing the preparations.
A restart is not yet confirmed. Management aims to restore trading within weeks. The announcements provide neither partner names nor a firm launch date.
Bitcoin Group says futurum bank will keep customer assets secure until their transfer to the alternative custodian, with customer claims preserved. The company also says protecting those assets during the transition is a priority.
The platform plans to publish the steps customers need to take and the transition timetable on bitcoin.de. Although futurum bank’s own application has been rejected, the group aims to return to trading using other institutions’ services. The partnership plan does not amount to approval of the existing application.
