The German regulator forbids the sale of ethense of the USD

The German Federal Financial Supervisory Authority, Bafin, ordered Ethen GmbH to stop all public sale of his Stablecoin USDA.

This comes after Gene Gene Financial Markets found serious shortcomings in the process of earlier approval Ethena GmbH.

By Buffin announcement 21. Marta 2025. year, public sale of Ethena (Ena) Synthetic dollar Ethena In the right violates the market of the European Union in the rules of property assets.

With the regulation of Stablecoin, one of the main priorities of the EU, a lack of micari respect has become a key obstacle to Stephone Publishers.

“Bafin also has reasonable reasons to suspect Ethena GmbH in Germany selling securities in the form of Susde Token from Ethena OPCO. Ltd. without the necessary prospectus,” said the regulator.

Bafin was therefore ordered by the Ethens to stop sales in public immediately.

Measures to implement

Implementation measures include freezing to the USD and reserves held by the elder of Ethen. In addition, Ethena GmbH is obliged to turn off its web pages portal and stop registering new customers.

Although Ethena GmbH is forbidden to sell in the order, the order only applies to primary sales. In this case, Bafin’s account does not affect secondary sales. Ethena Labs betrayed a statement to k after the news.

“We have been informed today that the application of Ethena GmbH will not be approved within the MICAR regulatory framework. Although we are disappointed by this decision, we will continue to assess alternative frameworks.”

According to the CRIPTO platform, Bafin’s account does not affect StableCoin.

The decision will not also affect forging and redemption through Ethena Limited, entity of the company registered at British Virgin Islands, which processes most of our website.

“Usd remains fully supported (i) No property was” frozen “” Ethena noted.