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The Federal Financial Supervisory Authority (BaFin) has issued a warning against Global Trade Verein for offering financial, investment, and crypto-security services without proper authorization. The announcement was made in a news release on February 5, 2025.
According to BaFin, the website gtv-holdings.com is being used by Global Trade Verein, based in Zurich, Switzerland, to offer unlicensed financial and investment services. The operator uses the name Global Trade Verein without disclosing a legal form, and no such entry exists in the Swiss commercial register. This warning is based on the German Banking Act (KWG) and the German Crypto Markets Supervision Act (KMAG).
Section 37 of the German Banking Act allows 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 the cessation of operations and appoint a liquidator to handle the settlement. The authority also has the power to inform the public if a company is suspected or found to be engaging in unauthorized activities.
