BaFin announces another warning on unauthorized services by Interactive Assets

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BaFin announces another warning on unauthorized services by Interactive Assets

Web3/Crypto

Mark Branson, president of BaFin | BaFin

By Crypto Republique

Feb 17, 2025

The Federal Financial Supervisory Authority (BaFin) has issued a consumer warning regarding Interactive Assets, a company allegedly offering unauthorized banking and financial services through new websites. This announcement was made in a news release on February 14, 2025.

According to BaFin, Interactive Assets has transitioned from its deactivated website interactiveassets.pro to new sites interactiveassets.biz and interactiveassets.trade. The operators are suspected of providing unauthorized financial, investment, and crypto asset services while falsely claiming affiliation with Börse Stuttgart GmbH and supervision by BaFin. This constitutes identity fraud, as per the German Banking Act and Cryptomarkets Supervision Act.

The German Crypto Markets Supervision Act (KMAG), effective December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It emphasizes market transparency, operational resilience, and compliance with European crypto regulations. The KMAG mandates that crypto service providers secure licenses, maintain robust systems, and ensure transparent practices within the sector to align with EU standards.

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Blockpit's analysis of Europe's safest licensed cryptocurrency exchanges ranks Binance first due to its regulation in multiple European countries, AES-256 encryption, and the Secure Asset Fund for Users (SAFU) program for user protection. Coinbase is ranked second with 98% of assets held offline and licensing by BaFin in Germany. Kraken ranks third by storing 95% of assets in cold wallets and adhering to regulations across the EU and other regions.

BaFin is responsible for overseeing the stability and integrity of Germany's financial system. It supervises banks, financial services institutions, payment institutions, e-money institutions, insurers, asset managers, and other related entities. BaFin's responsibilities include solvency supervision, market supervision to ensure fair conditions, and preventing misuse for money laundering or terrorist financing.

Organizations Included in this History

Germany - Federal Financial Supervisory Authority (BaFin)

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BaFin announces another warning on unauthorized services by Interactive Assets

CRYPTO NEWS AROUND THE GLOBE

CEO of AUSTRAC on non-AML compliant crypto exchanges: They 'can expect to hear from us'

Memecoin LIBRA in Argentina: A look back at a future state scandal? Crypto Dossier

U.S.-Listed Bitcoin Miners Are Growing Their Share of the Network Hashrate: Bernstein

Governor of Bank of Italy: Crypto 'regulatory divergences between the U.S. and Europe will need to be carefully assessed'

Blockchain Wars: BNB Chain Overtakes Solana and Ethereum in Daily Fees

Former prosecutor of DOJ: The corporate monitorship system is 'in dire need of reform'

CEO of Crypto Council for Innovation: 'SEC initiated more than 125 enforcement actions' but issued 'no clear guidance or rulemakings'

District Judge on Coinbase lawsuit: Coinbase 'sells digital assets qualifying as "securities" without registering with' SEC

Bitcoin: Michael Saylor and Strategy add 7,633 BTC to their treasury

USDC hits $56.3B market cap, regains losses from bear market

U.K. Man Wants to Buy Landfill Site in Search for Lost $784M of Bitcoin: Report

European Central Bank (ECB) hopes Trump's pro-crypto policy will accelerate digital euro

Chairman of Czech Cryptocurrency Association on new crypto laws: ‘Key part of the future of the Czech economy’

U.S. Regulator Pursuing Tokenization Pilot to Tap Stablecoins as Collateral

BaFin announces warning on unlicensed services by CoinCapitals and EasyInvestingPro

Attorney on Operation Choke Point 2.0: 'The government should fix what it has broken'

French crypto entrepreneur on Binance France investigation: 'timing is perfect' to 'secure full cooperation' with crypto tax

Alchemy Pay acquires Korea Electronic Financial Business registration

Bitcoin: El Salvador continues to accumulate BTC

Blackrock Plans to Launch a Bitcoin ETP in Europe: Bloomberg

French crypto entrepreneur on Binance France investigation: 'two days after the Senate vote on unrealized capital gains'

Bitcoin retail sellers send $625M to Binance before 'first cycle top'

Crypto entrepreneur on France's Bitcoin tax: France is 'going down'

ECB cuts rates, does not expect strategic Bitcoin reserves in EU

YZi Labs (formerly Binance Labs) brings $16 million to Sign’s airdrop distribution services

CIF: Congress must act on permanent safeguards against debanking, Chokepoint 2.0

US Crypto Reserve – Bitcoin or XRP: BRICS Has the Power to Affect the US

Tether disappointed with ‘rushed actions’ on MiCA-driven USDT delisting in Europe

Binance Labs rebrands to YZi Labs with new leadership and investment focus

Crypto influencer: Bitcoin's 'design ensures that no single person or entity can control it'

Organizations Included in this History

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