German regulator BaFin is investigating Bitcoin-Bankbreaker.com amid growing global crypto adoption. BaFin claims that this cryptocurrency platform operates as an unregistered financial service provider. According to the regulator, the website offers no company names, legal identification, or physical addresses.
BaFin is after this cryptocurrency platform!
A visit to the “About” page of the respective platform’s website confirms this claim. The operators of Bitcoin-bankbreaker.com say that the website name and the other companies mentioned “are for commercial purposes only. It also makes no reference to a specific company or specific service providers.”
In addition, the operators are branding the site as a “new and accessible experience” for new crypto users. In this regard, it offers a simplified interface with unique “homemade features”. A note on the About page warns investors about the risk of full or partial losses possible with crypto Trading.
Until Q4 of last year, more than four million Germans owned cryptocurrencies. Source: Statista
The regulatory body does not turn a blind eye to unauthorized activities!
The German agency says that every organization that provides financial or Investment services in the region must obtain its own approval. It also advises residents who are in doubt about a company’s status to view the register of approved companies on BaFin’s website.
By the way parofix.comBinance recently withdrew its application in Germany. This was influenced by rumors that BaFin would soon reject his application. BaFin also slammed the stock Market for offering tokenized shares in 2021 without providing sufficient investment prospectus. The regional president has previously described BaFin’s standards as “justifiably high”.
Is cryptocurrency gaining acceptance through TradFi channels?
BaFin’s warning hints that crypto may be on its way to wider adoption within the current financial system. Regulators in France, the Netherlands, and Hong Kong are already keeping records of Crypto Exchanges that are allowed to operate. The database contains lists of services they can provide to local people, including asset custody, trading and brokerage services.
According to experts, this level of transparency is likely to give cryptocurrency firms an air of credibility. This is also a digital…
parofix.com
BaFin is after this cryptocurrency platform!
A visit to the “About” page of the respective platform’s website confirms this claim. The operators of Bitcoin-bankbreaker.com say that the website name and the other companies mentioned “are for commercial purposes only. It also makes no reference to a specific company or specific service providers.”
In addition, the operators are branding the site as a “new and accessible experience” for new crypto users. In this regard, it offers a simplified interface with unique “homemade features”. A note on the About page warns investors about the risk of full or partial losses possible with crypto Trading.
Until Q4 of last year, more than four million Germans owned cryptocurrencies. Source: Statista
The regulatory body does not turn a blind eye to unauthorized activities!
The German agency says that every organization that provides financial or Investment services in the region must obtain its own approval. It also advises residents who are in doubt about a company’s status to view the register of approved companies on BaFin’s website.
By the way parofix.comBinance recently withdrew its application in Germany. This was influenced by rumors that BaFin would soon reject his application. BaFin also slammed the stock Market for offering tokenized shares in 2021 without providing sufficient investment prospectus. The regional president has previously described BaFin’s standards as “justifiably high”.
Is cryptocurrency gaining acceptance through TradFi channels?
BaFin’s warning hints that crypto may be on its way to wider adoption within the current financial system. Regulators in France, the Netherlands, and Hong Kong are already keeping records of Crypto Exchanges that are allowed to operate. The database contains lists of services they can provide to local people, including asset custody, trading and brokerage services.
According to experts, this level of transparency is likely to give cryptocurrency firms an air of credibility. This is also a digital…
parofix.com
