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

Tokenized Treasuries Hit Record $4.2B Market Cap as Crypto Correction Fuels Growth

Maximizing BNB Utility on Binance: A Guide to the Benefits

FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse

Binance recognized by Indonesian cybercrime directorate for collaborative efforts

It's the first institutional investment in the crypto exchange and the investment was made in an unnamed stablecoin, Binance said.

US CPI Inflation Drops to 2.8%: Is Bitcoin About to Explode Again?

Business founder on Binance France allegations: 'What is this madness?'

Indian authorities arrest alleged Garantex founder for US extradition

Trump’s crypto summit ‘not going to have anything on taxes’ — White House official

Bitcoin: USA could sell gold to finance its strategic BTC reserve

Lawmaker of Japanese LDP on crypto regulation: We will classify 'Crypto assets as a new asset class'

Tom Lee Predicts Market Bottom This Week, Still Sees Bitcoin Closing the Year at $150K

IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador

Bitcoin: Michael Saylor's company pauses BTC purchases

Head of law enforcement training at Binance: We need 'a unified approach between law enforcement and industry leaders'

Bitcoin Sell-Off Could Be a Textbook 'Breakout and Retest' Play: Godbole

CEO of Binance on crypto market turbulence: 'A tactical retreat, not a reversal'

Bybit hack forensics show SafeWallet compromise led to stolen funds

Bitcoin News: U.S. Spot Bitcoin ETFs See Record Single-Day Outflow of Over $900M as Carry Trades Yield Less Than the 10-Year Treasury Note

How DeFAI can scale safely in the age of AI

CZ unveils crypto investment portfolio with a 98.5% allocation to BNB, 1.3% to BTC

New SEC Cyber Unit Closes Chapter on Agency's Crypto Enforcement Emphasis

SEC Launches Fraud Unit That Exploits Crypto, AI Enthusiasm

CZ on aid for Argentinian rug pull victims: 'Sent 150 BNB. Good luck'

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'

Organizations Included in this History

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