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BaFin announces warning on unauthorized crpto services by tradesvisions.co

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BaFin announces warning on unauthorized crpto services by tradesvisions.co
Web3/Crypto
Webp branson2
Mark Bran­son, president of BaFin | BaFin

The Federal Financial Supervisory Authority (BaFin) has issued a warning regarding the website tradesvisions.co, which is offering financial, investment, and crypto asset services without the necessary authorization. This announcement was made in a news release on March 25, 2025.

According to BaFin, the website tradesvisions.co is operated by TradesVisions Ltd. from the British Virgin Islands and the UK. It offers financial, investment, and crypto services without proper authorization. The site uses the name EquityGeneralEU but does not disclose a legal company form or address. BaFin noted similarities to other recently flagged websites and emphasized that financial and crypto services in Germany require authorization, which can be verified in BaFin’s company database.

The German Crypto Markets Supervision Act (KMAG), effective 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 requires crypto service providers to secure licenses, maintain robust systems, and ensure transparent practices within the crypto sector. The framework supports secure and compliant market operations in alignment 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 SAFU (Secure Asset Fund for Users) program for user protection. Coinbase takes second place with 98% of assets held offline, licensing by BaFin in Germany, and advanced security protocols. Kraken ranks third by storing 95% of assets in cold wallets and adhering to regulations across the EU and other regions.

BaFin, the Federal Financial Supervisory Authority of Germany, 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. BaFin’s responsibilities include solvency supervision, market supervision to ensure fair and transparent conditions, and preventing misuse for money laundering or terrorist financing, according to BaFin.

Organizations Included in this History
Germany - Federal Financial Supervisory Authority (BaFin) • German Federal Financial Supervisory Authority (BaFin)
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