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CryptoCurrency
Germany Joins Anti-Binance Sentiment, BaFin Rejects License Application
2023-06-29T13:02:38.578+02:00
Local media reports that BaFin rejected Binance's application for a crypto custody license.
This is another European country where Binance is encountering problems.
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Retail FX
News Nuggets | 15 June: ASIC Cancels License; BaFin Probes Illegal Trading Brands
2023-06-15T12:04:57.601+02:00
Bitpanda introduces a new product; TradingView teams up with StakingRewards.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Institutional FX
Silicon Valley Bank Is Back in Germany after Creating New Subsidiary
2023-03-21T13:35:21.406+02:00
The original Silicon Valley Bank transferred all its assets to Silicon Valley Bridge Bank N.A.
It allowed SVB to register a new German subsidiary and obtain BaFin authorization.
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Retail FX
BaFin Takes Action against Silicon Valley Bank Germany Branch
2023-03-13T14:15:59.969+02:00
BaFin issues regulatory updates regarding the German branch of Silicon Valley Bank.
The supervisor decided to ban the institution's further operations temporarily.
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Retail FX
BaFin Fines flatexDEGIRO €1.05M with Orders to Fix Supervisory Controls
2023-02-27T13:07:11.128+02:00
The regulator appointed a special representative for the company.
Stock prices of flatexDEGIRO plummeted after the regulatory action.
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Arnab Shome
Institutional FX
Deutsche Bank's 'Project Teal' Probe on FX Mis-Selling to End after 3 Years
2023-02-20T14:47:38.930+02:00
ECB and BaFin are "not satisfied" with Deutsche Banks' internal probe.
The investigation may lead to another round of financial penalties.
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Damian Chmiel
Institutional FX
Regulators Slapped Industry with Record Fines in 2022, SEC in the Lead
2023-01-31T14:17:25.078+02:00
WhatsApp crackdown amounted to fines of $1.1 billion.
Also, European regulators imposed high penalties although visibly lower than the SEC.
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Damian Chmiel
Retail FX
Germany’s BaFin Says Online Broker MainTrade Not Authorized
2023-01-13T15:06:04.520+02:00
BaFin said it reached the decision based on information on the broker's website.
The German regulator issued warnings against a number of firms in 2022.
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Solomon Oladipupo
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Regulation
BaFin Raises Alarm on Trojan ‘Godfather’ Affecting Banking and Crypto Apps
2023-01-09T16:35:39.428+02:00
Cybersecurity firm Group-IB also recently urged caution against the malware.
The malware infected over 400 platforms last year.
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CryptoCurrency
BaFin President Seeks Global Crypto Regulation
2022-12-15T13:58:16.383+02:00
The President said a self-regulatory approach would not work for crypto.
BaFin is overseeing the crypto sector in Germany.
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CryptoCurrency
Bitpanda Obtains Crypto License in Germany
2022-11-22T11:47:56.718+02:00
The crypto startup is regulated in seven different European states.
A broad portfolio of regulatory licenses should increase assets' security.
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Retail FX
Germany’s BaFin Says Trading Platform GTS Financial Not Authorized
2022-09-19T15:41:31.410+02:00
GTS Financial is not under BaFin's supervision.
The regulator last month flagged LiquiTrade Limited.
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Regulation
BaFin Clarifies Crypto Investments Are Not Protected by Deposit Insurance
2022-08-23T13:21:43.200+02:00
General insolvency laws and customer contracts will be applicable for recovery.
Several crypto companies filed for insolvency recently.
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FinTech
LiquiTrade Is Operating ‘Illegal Banking Services’ in Germany, BaFin Says
2022-08-12T18:39:37.124+02:00
BaFin said content of latoken.com justifies the conclusion.
It added that LiquiTrade Ltd is not licensed under the German Banking Act.
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FinTech
Germany’s BaFin Fines BofA $5.3M for Delay in Reporting Voting Rights Notifications
2022-08-11T21:06:49.011+02:00
Additional details are yet to emerge.
Bank of America’s net income dropped 13% to $6.1 billion in Q2 2022.
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CryptoCurrency
BaFin Says Lucrative ‘Crypto Assistant’ Job Not from CWE Capital
2022-06-13T18:58:46.274+02:00
BaFin says CWE Capital Holding is not the operator of cwe-capital.com.
Hired 'crypto assistants' can be prosecuted, the regulator further says.
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CryptoCurrency
After France's Nod, Binance Faces Germany to Deepen Ties in Europe
2022-05-20T17:25:45.726+02:00
Binance is seeking an operating license from BaFin.
The exchange received France's AMF DASP registration last month.
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Regulation
BaFin to Investigate blockchains.de
2022-05-11T22:30:00.000+02:00
The trading platform is not supervised by BaFin.
Blockchains.de business address is located in London, UK, as of press time.
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Retail FX
BaFin Launches Investigation against UpbitFx Exchange
2022-04-05T03:41:00.000+02:00
The website is not authorized or regulated by BaFin.
The company had allegedly cloned parts from another BaFin-regulated firm's website.
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CryptoCurrency
BaFin Warns Investors of Crypto Trading Advices on Social Media
2022-02-07T16:32:02.024+02:00
Caution is advised if only success stories are highlighted without the risks.
BaFin advises investors not to be lured by 'high profits and safe investments'.
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Institutional FX
BaFin Fines Deutsche Bank €8.66M for Benchmark Control Failures
2021-12-29T12:32:43.494+02:00
It was a big blow to the reputation of the German lender.
The bank has already accepted the fine.
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Institutional FX
Germany’s BaFin Fines Vanguard Group €290K
2021-12-02T21:16:00.000+02:00
The fine came to tighten compliance on voting rights notifications when reporting thresholds.
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Regulation
Germany’s BaFin Says CoinsTrades Is an Unauthorized Trading Platform
2021-10-20T22:20:59.000+02:00
The German financial watchdog is currently investigating the platform which is registered in St. Vincent and the Grenadines.
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Regulation
New Germany’s BaFin President Vows for Bolstering Supervision Tasks
2021-10-14T00:50:47.000+02:00
Experts said that the institution needs to be more 'receptive' to the changes to restore its credibility.
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News
BaFin Launches Investigation against BitcoinWelt
2021-09-17T20:49:15.000+02:00
Germany's financial regulator says BitcoinWelt is not authorized nor supervised by the local authorities.
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