BaFin Orders Finatex to close operations

BaFin Orders Finatex to close operations

The German Federal Financial Supervisory Authority (or BaFin) has recently ordered a cryptocurrency firm, Finatex Ltd, to shut down its trading operations. The CEO Felix Hufeld explained, “We do not want to stifle innovation, but must avert dangers at the same time. For example, it is important for us to take action against money laundering and safeguard the privacy rights of investors.”

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