Quantcast

BaFin announces warning on LumiGain.io for unauthorised crypto services

JP Morgan explore la tokenisation dans les portefeuilles d'investissement
FMI : vous ne posséderez plus de cash, mais seulement des MNBC
USA : La SEC a connu une année « productive » contre les cryptos
Turkey to Focus New Crypto Rules on Tighter KYC at Exchanges
Prominent Crypto Trader Issues Warning About Cold Wallet Scam
États-Unis : un nouveau cadre fiscal sur les cryptos pourrait « tuer » la DeFi
Fiscalité crypto internationale : l'OCDE rallie 48 pays derrière son projet
Chinese Gang Dupes Users With Fake Skype and Binance Apps, Millions in Crypto Stolen
As Binance Launches Web3 Wallet, Is a $300 BNB Token Price Within Reach?
Rebuild or retreat? Crypto faces tough choices after FTX
FTX Marks a Year in Bankruptcy. What We’ve Learned From Crypto Restructurings.
Foresight Ventures Takes Majority Stake in Crypto News Site The Block
FTX Sues Crypto Exchange Bybit to Recover $953 Million in Cash and Assets
Binance Halts Illicit Fund Movement, Ceases Russian Ruble Deposits
Sam Bankman-Fried Could Get 100 Years in Prison. What Is Fair?
Tighter rules make an impact on UK crypto markets
Why Are French Men Making Cryptocurrency Bets?
Incubateurs Web3 : lequel choisir ?
Serena lance un fonds de 100 millions d'euros
How Misinformation On Hamas And Crypto Fooled Nearly 20% Of Congress
Ether Soars After BlackRock Files for Spot Ethereum ETF
Celsius Network, One of Crypto’s Biggest Collapses, Ends Bankruptcy Case
The crypto ATM business is somehow still booming
Le « made in France », victime à son tour de l’inflation
La start-up française Quandela lève 50 millions d’euros pour fabriquer des ordinateurs quantiques
Emmanuel Macron apporte son soutien à un projet de musée du jeu vidéo lancé par un youtubeur
Kazakhstan’s authorities confirm they blocked access to Coinbase: Report
Crypto Entrepreneurs Are Pivoting to AI. Here’s One Founder’s Experience.
UK sets out proposals to bring stablecoins into real economy
Why crypto is a poor relation of digital payments
BaFin announces warning on LumiGain.io for unauthorised crypto services
Web3/Crypto
Webp branson4
Mark Bran­son, president of BaFin | BaFin

The Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers regarding the website lumigain.io, which is offering cryptoasset and financial services without the necessary authorization. This announcement was made in a news release on February 25, 2025.

According to BaFin, the website lumigain.io claims oversight by the Crypto Standards Commission, an organization that lacks authority to approve such services. BaFin clarified that the company is not under its supervision. In Germany, providing crypto and financial services requires authorization from BaFin. The agency's official database can verify whether a company holds such authorization. This warning is issued under sections 37 (4) of the German Banking Act and 10 (7) of the German Cryptomarkets Supervision Act.

The German Crypto Markets Supervision Act (KMAG), effective since December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It focuses on 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. The framework aims to support secure and compliant market operations in alignment with EU standards.

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.

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 SAFU (Secure Asset Fund for Users) program for user protection. Coinbase ranks second with 98% of assets held offline, licensing by BaFin in Germany, and advanced security protocols. Kraken comes third by storing 95% of assets in cold wallets and adhering to regulations across the EU and other regions.

BaFin oversees 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. Its responsibilities include solvency supervision and market supervision to ensure fair conditions while preventing misuse for money laundering or terrorist financing.

Organizations Included in this History
More News

Bitcoin, Ethereum, Binance Coin & more: Today's crypto overview — March 18, 2025

Mar 19, 2025

From Bitcoin to Solana: Here’s how major cryptocurrencies moved today – March 17, 2025.

Mar 18, 2025

Susie Violet Ward, a bitcoin journalist and financial analyst, has criticized the UK Financial Conduct Authority's (FCA) cryptoasset policies, claiming they stifle innovation and drive bitcoin businesses offshore.

Mar 18, 2025

The Federal Financial Supervisory Authority (BaFin) has issued a warning concerning the website bitwelt.co, which is reportedly offering financial, investment, and crypto asset services without the required authorization.

Mar 18, 2025

The Federal Ministry of Finance of Germany has announced new guidelines on tax reporting and record-keeping for crypto assets, replacing its previous circular to clarify cooperation obligations and assessment procedures.

Mar 18, 2025

Georg Brameshuber, a cryptocurrency advisor, has expressed concerns over Germany's taxation policies on unclaimed staking rewards.

Mar 18, 2025