German Regulator Probes Operator Of Bitcoin Buyer Platform

By Irene Madongo (October 14, 2021, 6:55 PM BST) -- Germany's financial regulator has launched an investigation into the operator of trading platform Bitcoin Buyer, which it said is not authorized to provide financial services.

BaFin said on Wednesday that those responsible for the websites bitcoin-buyer.de and bitcoin-buyer.app/de/ are not subject to its supervision. Providers of banking or financial services need to have a permit under Germany's banking rules, but some businesses act without the necessary authorization, the watchdog added.

The websites' content and information available to BaFin justify the assumption that the platform operator offers unauthorized banking or financial services in Germany, the watchdog said.

The regulator also noted that...

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