Quantcast

BaFin announces warning on unauthorized services by identical websites

CRYPTO NEWS AROUND THE GLOBE
Ethereum Vs Restaking: Eigenlayer Facing A Yield Crisis?
SafeMoon CEO John Karony Claims He's "Innocent" Of Multi-Million Crypto Fraud Scheme
Shiba Inu (SHIB) raises $12 million to create layer 3 based on anonymity
Turkey's investing app Midas raises $45m to double down on crypto
Swiss Bitcoin advocates launch campaign to include BTC in National Bank reserves
Find out how to transform 10 euros into 100k with Bitcoin Runes
After 6 weeks of accumulation, Ethereum ready to soar? ETH analysis of April 19, 2024
Best Crypto to Buy Now April 19 – Bitcoin, Dogwifhat, THORChain
Billionaire Mark Cuban weighs in on the bitcoin halving
Why Brevan Howard’s crypto boss plans to tap AI and blockchain opportunities
Worldcoin launches layer 2 blockchain as eye scanning venture hits 10m users
Europe dominates crypto banking with 63 providers
French Usual raises $7M with its stablecoin USD0
Binance teams up with European universities to train students in Web3
Mobicoin: Mercedes-Benz launches an ecological cryptocurrency
Crypto Investors are Moving Funds into This Virtual Reality Project Before it Lists on Exchanges – What Does it Do?
27% of Ethereum Now Staked: $98 Billion Committed as Interest Peaks – Bitcoin News
Will bitcoin Continue to Rise or Fall?
Halving Bitcoin this week – Should you sell or buy?
Bitcoin seen surging to $450,000 — if this halving trend plays out
Cryptocurrencies: The Rebound Of Solana (Sol) Outperforms Bitcoin And Ethereum
CoinShares: Investors withdraw $126m as crypto confidence wanes
April's first two weeks saw more Ethereum loans liquidated than any month since June 2022
Will Bitcoin reach a new ATH in less than 10 days?
Binance adds Ethereum Omni Network project to Launchpool
Last weekend before the halving: What does the price of Bitcoin have in store for us?
Crypto liquidations creep toward $500 million as major token prices plunge
US government tops global Bitcoin holdings with $15b in assets
Cryptocurrencies: This London Mayoral Candidate Proposes Launching A London Coin
With its volatility at its lowest, Bitcoin ready for its next big move? BTC analysis for April 12, 2024
All Crypto News Around The Globe
BaFin announces warning on unauthorized services by identical websites
Webp branson
Mark Bran­son, president of BaFin | BaFin

The Federal Financial Supervisory Authority (BaFin) has issued a consumer warning concerning the websites premiumtradingsignal.com and pausepointnext.com, which are allegedly offering unauthorized financial services. This announcement was made in a news release on January 7, 2025.

According to BaFin, the services offered on these websites appear identical and involve financial and investment services without the necessary authorization. The websites offer trading in financial instruments but lack essential details such as legal forms, registered offices, and legal notices. Furthermore, BaFin states that the claimed registration in Australia cannot be confirmed.

Pause Point Next, established in 2015, focuses on currency trading and offers services for Forex, Contracts for Difference (CFDs), and cryptocurrencies. It provides access to over 1,000 forex pairs as well as CFDs on shares, indices, energies, metals, and Exchange-Traded Funds (ETFs), according to the websites.

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) permits BaFin to intervene against unauthorized banking activities or financial services. If a company operates without necessary licenses or engages in prohibited transactions, BaFin can order operations to cease and appoint a liquidator for settlement. BaFin also holds the authority to inform the public if a company is suspected or found engaging in unauthorized activities; if proven false, it must correct this information.

BaFin oversees Germany's financial system's stability and integrity by supervising banks, financial service institutions, payment institutions, e-money institutions, insurers, asset managers, among others. 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

FCA seeks input on cryptoasset trading platform regulations