Quantcast

BaFin announces warning on unauthorized services by identical websites

CRYPTO NEWS AROUND THE GLOBE
Columbia Business Professor: 'we will be reaching the point where transacting on blockchains is absolute poison for criminals'
Can the third world war break the Bitcoin cycle and prevent the next bull run?
SEC appeals Ripple case ruling, citing conflict with Supreme Court precedent
Bitcoin Crumbles to $60K, Giving Up Most Post-Fed Rate Cut Gains
Three OpenSea execs quit in last three months as troubles mount for NFT marketplace
UK regulators open sandbox to unlock a $14tn tokenisation bonanza
Bitcoin Tumbles Back Below $64K as Surprise Japan Prime Minister Choice Triggers 5% Plunge in Nikkei
Changpeng Zhao on his plans: “Binance seems to be doing well without me at the wheel, which is great”
QCP Capital forecasts continued risk-on sentiment for bitcoin after strong September
Bitcoin Prices Show Positive 30-Day Correlation With China's Central Bank Balance Sheet
Base: the Coinbase Layer-2 passes the 2 billion TVL mark
Binance announces collaboration to combat scam operation in Indonesia
Tornado Cash case: Developer Roman Storm faces 45 years in prison
US ambassador to the United Nations presses Nigeria to release jailed Binance exec
Retail Accumulation and Exchange Outflows Drive Market Optimism for Bitcoin
How Worldcoin’s crypto giveaway in Berlin exploded in fistfights with Chechens and ‘undesirables’
Binance CEO: 'proud to have successfully secured our 19th global regulatory approval in India'
Societe Generale partners with Bitpanda to democratize access to the EURCV stablecoin
Binance launches its pre-market offer to acquire cryptocurrencies before their listing
Coinbase adds Solana cbBTC support as Bitcoin-backed token race heats up
Sygnum Unit Receives Liechtenstein License as a Crypto Asset Service Provider
He used his clients' cryptos to buy luxury cars – A scammer sentenced to pay 36 million dollars
Ethereum transaction fees surge even as active accounts fall to year-to-date lows
MultiversX co-founder: 'talking to incredible people about the next big things in Web3' at Token 2049
Rising crypto litigation – L’AMF adds multiple entities to its blacklist
Binance CEO: 'Had a great time meeting the global crypto community' at Token 2049
Crypto Exchange BingX Hacked, Onchain Data Shows Over $43M Drained
The first stablecoin in euro compliant with the MiCA law is launched on Cosmos
SG-FORGE chooses Solana for its stablecoin
Binance announces speaker lineup for Blockchain Dubai 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

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