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Germany's BaFin has suspended Ethena's new business of issuing USDe tokens, citing major compliance deficiencies

According to BaFin's official website announcement, the German financial regulator BaFin has suspended Ethena GmbH's new business of issuing USDe stablecoins in Germany, citing significant organizational deficiencies and compliance violations in the MiCAR licensing process, including improper management of asset reserves and failure to meet capital base requirements. BaFin has taken the following measures: freezing Ethena GmbH's asset reserves, restricting management's right to dispose of assets...

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2025-03-21 15:33:02
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