In a surprising development, decentralized finance (DeFi) protocol Ethena Labs has announced via its official X account that the firm has reached an agreement with German watchdog BaFin to end operations in the country. The company also announced that it is withdrawing its MiCAR application in Germany.
Ethena Labs Ceases Operations in Germany: Know More
Ethena Labs has taken a bold move to cease its operations in Germany. The platform has reportedly reached an agreement with BaFin to end all activities of the firm’s German subsidiary, Ethena GmbH. In addition, the platform has abandoned its efforts to attain regulatory approval under the EU’s Markets in Crypto-Assets Regulation. The platform’s X thread read,
“We have agreed with BaFin to wind down all activities of Ethena GMBH and will no longer be pursuing the MiCAR authorization in Germany.”
What Forces Ethena To Shut Down?
Notably, Ethena faced an enforcement action from the German regulators in March 2025. The BaFin or
We współpracy z: https://coingape.com/ethena-exits-germany-withdraws-micar-operations-heres-why/
