Quantcast

BaFin announces warning on LumiGain.io for unauthorised crypto services

UK retail sales fall to two-year low as inflation-hit consumers cut spending
Europe needs its own SEC, says Christine Lagarde
Singapore opens the door to a shrinking market
Macron argues against 'punitive' AI regulation
A Chypre, un conglomérat de cybersurveillance entre opacité juridique et optimisation fiscale
L'échange d'infos fiscales crypto automatisé dans 47 pays en 2027 - Coins.fr
CoinShares prend une option sur Valkyrie et son ETF Bitcoin spot - Coins.fr
Binance : Une responsable de la lutte anti-terrorisme quitte le navire à son tour
Bitnovo devient la première société crypto espagnole autorisée à opérer en France
Après un discours maladroit, Gary Gensler (SEC) se fait tacler par l’avocat de Ripple (XRP)
Fallen Crypto Star Do Kwon Loses Appeal on Fake-Passport Conviction
Crypto Firm Paxos to Issue U.S.-Dollar Stablecoin in Singapore
Commerzbank décroche une licence de crypto-custody en Allemagne - Coins.fr
Officiel : BlackRock fait sa demande d’ETF Ethereum au comptant auprès de la SEC
Les géants Microsoft et Tencent rejoignent le réseau décentralisé de ConsenSys
Circle Ventures investit sur la blockchain Sei pour élargir l’écosystème de son USDC
Paxos prévoit de lancer un nouveau stablecoin sur le dollar à Singapour
New York Updates Crypto Exchange Listing Rules: No Self-Certification Permitted
Philippines Pilots Tokenized Treasuries Amid Real-World Asset on Blockchain Boom in Asia
Le Paris Saint-Germain lance une collection de NFT assez spéciale avec Blvck
Bear Market : ces entreprises crypto qui défient les lois de la gravité
EXCLUSIF. En difficulté, Sismo pourrait bientôt s'arrêter
Avec Ordinals, la folie des NFT et des meme coins gagne Bitcoin
U.K. Inflation Drops Sharply, Likely Ending Rate Hikes
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
Ethereum : l'idée controversée de Vitalik Buterin pour faire baisser les frais
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