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Crypto Finance obtains four licenses in Germany
Based in Switzerland Crypto Funding has obtained four licenses from the German Federal Financial Supervisory Authority (BaFin).
These licenses, granted to its subsidiary Crypto Finance (Deutschland) GmbH, authorize regulated digital asset trading, settlement and custody services in Germany. This development aims to further consolidate Crypto Finance’s position in the regulated European digital asset landscape, highlighting its commitment to offering institutional grade services while adhering to regulatory frameworks.
In the official press release, representatives of Crypto Finance Group expressed their enthusiasm for the licensing of Crypto Finance (Deutschland) GmbH by BaFin, emphasizing the company’s commitment to transparency and security, as well as its emergence as a trusted entity in the market. They also highlighted that this achievement highlights the company’s efforts to establish a reliable ecosystem for crypto assets within a strict regulatory environment.
Crypto Finance (Deutschland) GmbH officials highlighted the company’s comprehensive approach, positioning itself as a one-stop solution for digital asset services. They highlighted the importance of covering the entire value chain and the pride of having achieved important milestones in Germany, where the company offers highly regulated services. They also showcased the company’s offerings beyond trading, extending to settlement, custody and post-trade services, aimed at institutional investors seeking access to the dynamic digital assets space.
More information on crypto finance
Crypto Finance Group, consisting of two FINMA-regulated financial institutions and a BaFin-licensed subsidiary, offers professional digital asset solutions. These solutions include brokerage services, custody, infrastructure and tokenization solutions for financial institutions. Additionally, it is the first collective asset manager for digital assets approved by FINMA, offering alternative investment fund offerings.
Crypto Regulations in Germany
According to soliduslabs.com, in Germany, cryptocurrencies are classified as financial instruments or assets, which makes them subject to securities, commodities and investment laws. Germany has proactively regulated cryptocurrencies, enacting a law in 2020 that requires all cryptocurrency exchanges operating within its borders to obtain a license from the Federal Financial Supervisory Authority (BaFin ).
The same source reveals that BaFin plays an important role in the German crypto environment, overseeing the regulation of its markets, including cryptocurrency exchanges, brokers and custodians.
Additionally, Germany has clear anti-money laundering regulations that apply to cryptocurrency exchanges and service providers. These providers must implement Know Your Customer (KYC) procedures and monitor transactions to prevent money laundering and terrorist financing. They are also required to report any suspicious activity to the Financial Intelligence Unit (FIU) via the BaFin Suspicious Transaction Reporting System.