Bitcoin Group SE is restructuring its Bitcoin.de trading platform after Germany’s Federal Financial Supervisory Authority (BaFin) refused its wholly owned subsidiary futurum bank AG authorization as a crypto-asset service provider under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The decision was announced on Oct. 6, 2026, and removes the direct licensing route the company had relied on to relaunch Bitcoin.de as a redesigned brokerage.
Trading on Bitcoin.de has been largely suspended since June 12, 2026. Futurum bank originally submitted its MiCA application on June 27, 2025, meaning the licensing process lasted more than 15 months. Bitcoin Group said BaFin viewed the current implementation and operational readiness as insufficient, and that the additional progress achievable in the short term was not enough to meet remaining requirements. The company disagrees with the assessment and is reviewing options, including an objection within one month of formal notification or a new MiCA application later.
Instead of waiting for another license, Bitcoin Group now plans to use regulated German partners to restore trading. One regulated institution would initially act as the trading counterparty for Bitcoin.de customers, while another regulated German company would hold customer crypto assets. The partners have not been named. CEO Moritz Eckert called the decision “a setback for us” and said the company is working to resume trading through the rebuilt Bitcoin.de app “within the next few weeks.” Futurum bank will keep customer assets until they are transferred to the new custodian, and Bitcoin Group said customer claims remain intact.
The regulatory setback is already weighing on financials. For the first half of 2026, Bitcoin Group reported revenue of €1.59 million, down from €3.78 million a year earlier. EBITDA fell to a loss of €3.25 million from a €1 million loss, while cash and cash equivalents dropped to €3.9 million from €12.6 million at the end of 2025. The company still held €199 million in net crypto assets and reported an equity ratio of 71.8%. Management expects another negative EBITDA year in 2026. Bitcoin Group shares closed at €27.98 on Xetra on Oct. 6, down 1.96%.
Bitcoin.de has more than 1.1 million registered users. The delayed relaunch means the platform’s planned expansion to more than 100 cryptocurrencies, savings plans, swaps and staking remains on hold. Germany has become one of Europe’s largest MiCA licensing markets, with BaFin accounting for 79 authorized crypto-asset service providers by late August, according to earlier reports.
