BaFin rejects Bitcoin Group SE's MiCA applicati... - Pluang

Germany's financial regulator BaFin has reportedly rejected the MiCA licence application of Bitcoin Group SE, the parent of crypto exchange Bitcoin.de. The decision, first reported by Pluang, means the company cannot rely on the new EU-wide licensing regime to passport crypto services across the bloc under its current application.

The development matters because MiCA was designed to replace the patchwork of national crypto rules with a single licence valid across all 27 member states. A rejection signals that regulators are scrutinising applicants closely on governance, capital and compliance standards, and that not every incumbent exchange will clear the bar on its first attempt.

For market observers, the key question is what happens next: whether the company refiles, adjusts its structure, or operates under existing German permissions while the situation is resolved. The episode is a reminder that Europe's crypto licensing regime is now being tested in practice, and that regulatory outcomes — not just market conditions — can shape which venues serve EU customers.