Topic Unauthorised business Platincoin has no authorisation under section 32 of the German Banking Act (Kreditwesengesetz – KWG)

Date: 29.11.2018

The Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin) hereby announces that it has not issued Platin Genesis DMCC with authorisation to conduct banking business or provide financial services in accordance with section 32 of the KWG.

The company is not subject to supervision by BaFin.

It has been brought to BaFin’s attention that a new Platincoin crypto fund is being advertised on social media, reportedly with the claim that it has been authorised and approved by BaFin. This claim is not true.

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