the Pavin, federal financial supervisory authority in GermanyHe ordered the immediate suspension of the public sale of a USDE code, which is an artificial currency issued by Ethina GmbH.
The decision was taken after alleged European organization violations on encrypted currency markets (Microscope), Highlighting the failure to comply with compliance obligations.
Bafin also freezed reserves that support the distinctive symbol and imposed the company’s location. However, secondary sales of the distinctive symbol will not be banned.
Violations of European regulations and measures that Pavin made by the American league Eathina code
Pavin has He issued an order This imposes Immediately stop for the basic sale of the USDE codeShedding light on many issues in the regulatory requirements, followed by Ethaina GmbH.
According to the official statement, specify the organizer as possible Violation of European European Securities RegulationsThe belief that the distinctive symbol was marketed without the necessary information bulletin required by microscope (markets in organizing encrypted assets).
In addition to sales prohibition, BAFIN also:
- – Freezing warranty reserves That supports the value of the USDE icon.
- – Close the platform online It worked through the company.
- – Immediate stopping to acquire new customers.
These measures aim to prevent risks to investors and ensure the work of the cryptocurrency market according to the current regulations in the European Union.
According to Bafin, the problem does not only concern the USDE symbol, but also its associated version, SusDE.
The organizer emphasized that the fate is closely related to a Military exchange mechanismWhere investors can get Susde Tokens in exchange for USDE.
Pavin stated that he has Reasonable causes of doubt That ethena Gmbh market Susde Tokens as financial tools Without the required release bulletin.
This type of violation is a A serious violation of European financial market lawsWhich imposes strict rules on transparency and the protection of the investor.
Impact on markets and Pavin position
Despite the prohibition on initial sales, BAFIN explained this USDE and SusDE transactions will not be banned in secondary markets.
This means that users will be able to continue to exchange symbols between them without direct effects on decentralized trading platforms or in the third party exchange.
However, the measure launched by the Bafin highlights the increasing interest of European organizers in monitoring the encrypted currency market.
With the entry of the MICAR law, the European Union adopts strict policies to ensure the compliance of digital assets to the rules similar to those applied to traditional financial tools.
Bafin decision is a clear signal for the encrypted currency industry: European authorities intensify controls to ensure the compliance of digital codes of financial market systems.
This condition can pave the way for more interventions by the organizers on other encryption initiatives Do not meet the requirements specified by Micar.
Ethena GmbH will now have to face the consequences of her alleged violations and may have to completely comply with European regulations to resume their operations.
Currently, there are no official data from Ethena GmbH regarding this procedure. However, it is still under development and more details may appear in the coming days.
