According to CoinMeta, German financial regulator BaFin rejected the MICA application submitted by bitcoin.de's wholly-owned subsidiary Futurum Bank, resulting in the suspension of most transactions on that platform. Futurum Bank plans to cooperate with regulated companies in Germany as counterparties for the new model. The company stated that it expects to resume transactions within the next few weeks, but no specific date has been determined yet. Futurum Bank will continue to hold customer assets until they are transferred to the planned regulated custodian institutions.