Quantcast

BaFin announces warning on unauthorized services by Fintexa.net

CRYPTO NEWS AROUND THE GLOBE
Coinshares Rebrands Its Nordic Crypto ETP
Nigeria drops tax charges against ailing Binance exec as spouse calls for end to ‘nightmare’
Tesla (TSLA): shareholders validate Elon Musk's $56 billion compensation plan
Gary Gensler Predicts Ethereum ETF Approval by Summer's End
More Central Banks Are Exploring a CBDC, BIS Survey Finds
Ether Sees Significant Long-Term Holder Accumulation Amidst 2% Price Dip
MoonPay and PayPal’s Partnership Expands to EU and UK
Can Solana bounce back thanks to the CPI and the Fed after a 17% correction?
Singapore money launderer gets 17 months in $2.2bn case involving illicit crypto
The EU is targeting crypto privacy, Monero facing a significant challenge.
Brazil’s Largest Bank Expands Bitcoin and Ether Trading to All Customers
Wife of Binance exec ‘expected a lot more’ from US as husband languishes in Nigerian prison
Tokenization: Fidelity tokenizes the shares of its money market fund on the JPMorgan blockchain
South Korea exceeds all other countries in terms of crypto adoption, what are the consequences?
Crypto: Investors are accumulating Ethereum ahead of the next price surge
Solana-based multisig protocol Squads raises $10 million, launches retail wallet app Fuse
Norwegian government freezes and returns $5.7 million connected to Ronin hack
Breaking: Robinhood to Acquire Bitstamp Crypto Exchange in $200 Million All-Cash Deal
Former Federal Prosecutors, Agents Ask U.S. Sec. Blinken to ‘Step Up’ Efforts to Secure Detained Binance Exec’s Release
HOOD Stocks Will Explode, It's the Deal of the Century According to Experts
Bitcoin - European Central Bank (ECB) Reopens the Floodgates
SEC’s Gary Gensler ditches favourite crypto broadside
Will Dogecoin hit $1 in June? What the forecasts tell us
Author: U.S. citizen detained in Nigeria is being 'denied proper medical treatment for malaria'
France: Lugh announces the end of its stablecoin EURL – Why?
Europe: Bitpanda announces major partnership with Deutsche Bank
What are the 5 cryptocurrencies that performed best in May 2024?
Binance to restrict 'unauthorized' stablecoins in EU starting June 30, urges users to switch to regulated tokens
Ethereum ETF: 3 reasons for future failure for JPMorgan
SpacePay Brings Crypto To Traditional Commerce Using Revolutionary Payment Software – Next Big Altcoin of 2024?
All Crypto News Around The Globe
BaFin announces warning on unauthorized services by Fintexa.net
Webp branson
Mark Bran­son, president of BaFin | BaFin

The Federal Financial Supervisory Authority (BaFin) has issued a consumer warning regarding the website Fintexa.net, cautioning the public that the company may be offering unauthorized financial services. This announcement was made in a news release on January 2, 2025.

According to BaFin, there is suspicion that the operators of Fintexa.net are providing financial and investment services without the necessary authorization. In Germany, such services require BaFin's approval. The authority advises checking its database to verify whether a company is authorized to offer these services.

Fintexa.net is described as an online trading platform offering various financial services, including Forex, cryptocurrency, and stock trading. It advertises features like low spreads, fast order execution, and customer support while claiming to provide access to global markets and personalized trading assistance.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

Section 37 of the German Banking Act (KWG) empowers BaFin to act against unauthorized banking activities or financial services. If a company operates without required licenses or engages in prohibited transactions, BaFin can order operations to cease and appoint a liquidator for settlement. Additionally, BaFin can inform the public about suspected unauthorized activities and must correct any false information if proven otherwise.

BaFin oversees Germany's financial system stability and integrity by supervising banks, financial service institutions, payment institutions, e-money institutions, insurers, asset managers, and related entities. Its responsibilities include solvency supervision and market supervision to ensure fair conditions while preventing misuse for money laundering or terrorist financing. Since May 1, 2002, following the merger of three federal supervisory offices, BaFin has been responsible for regulating and supervising the financial sector.

More News

Crypto whistleblower on Bitget scam: I 'had over $260,865.88 in open leveraged trades' 'I lost everything'

Farid Mahmoodi, a crypto trader and whistleblower, has raised serious allegations against the cryptocurrency exchange Bitget.

May 29, 2025

FCA issues warning on Codex Finance for unauthorized financial and crypto services

The Financial Conduct Authority (FCA) has issued a warning regarding Codex Finance, which is allegedly offering financial and crypto-related services without proper authorization.

May 22, 2025

FCA warns about unauthorized financial and crypto services from Dragonfly Capital Fx

The Financial Conduct Authority (FCA) has issued a warning regarding Dragonfly Capital Fx, which is reportedly offering financial and crypto-related services without proper authorization.

May 22, 2025

CNMV announces adoption of MiCA development guidelines

The Comisión Nacional del Mercado de Valores (CNMV) has announced that it has informed the European Securities and Markets Authority (ESMA) of its adoption of five MiCA Regulation development guidelines.

May 22, 2025

BaFin announces warning on unauthorized services by turbon.co

The German Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers regarding the website turbon.co.

May 21, 2025

FCA seeks input on cryptoasset trading platform regulations

The Financial Conduct Authority (FCA) has announced its intention to seek feedback on proposed regulations for cryptoasset trading platforms.

May 17, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

Crypto whistleblower on Bitget scam: I 'had over $260,865.88 in open leveraged trades' 'I lost everything'