BaFin Germany banned the work of the cryptocurrency exchanges as a broker

Service of financial supervision of Germany (BaFin) ordered the Berlin exchange Crypto.exchange GmbH to immediately stop its work as a financial broker.

The order was issued after the exchange reported on its website btc-now.de that will sell bitcoins for euros of the customer and then sell them on the stock exchange, BaFin said in its statement. The company stated that the purchase price will be transferred to the investors within 30 minutes.

The approval of BaFin, the financial intermediary operations carried out by Crypto.exchange GmbH not sanctioned by the regulator. BaFin made the decision after the users have stated that they have not received the money transferred to the company, the cryptocurrency, says Bloomberg.

«The order of the BaFin must be executed immediately, but it is not final,» — said in a press release. At the time of publication of news website btc-now.de
was available.

In April last year, the financial regulator of Germany announced
the closure of the German payment service IMS International Marketing Services GmbH schema-bound cryptocurrency OneCoin, which has repeatedly accused of fraud. A few weeks later BaFin has also issued an order on the termination of activity of two holding companies, associated with OneCoin.

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