The Federal Financial Supervisory Authority (BaFin) has issued another consumer warning regarding Immediate Dash, a company allegedly offering unauthorized crypto and financial services through new websites. This announcement was made in a news release on March 26, 2025.
According to BaFin, a previous warning was issued on March 5, 2025, concerning the websites immediate-dash.de and immediate-dash.org. The operators are suspected of providing financial, investment, and crypto asset services without proper authorization. In Germany, such services require BaFin's approval; however, some companies operate without it. BaFin's database allows consumers to verify whether a company is authorized. The warning is based on section 37(4) of the German Banking Act (KWG) and section 10(7) of the German Crypto Markets Supervision Act (KMAG), as said in the news release.
The German Crypto Markets Supervision Act (KMAG), effective from December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It focuses on market transparency, operational resilience, and compliance with European crypto regulations. The KMAG requires crypto service providers to secure licenses, maintain robust systems, and ensure transparent practices within the crypto sector. The framework supports secure and compliant market operations in alignment with EU standards.
Blockpit’s analysis ranks Binance as Europe's safest licensed cryptocurrency exchange due to its regulation in multiple European countries, AES-256 encryption, and the SAFU (Secure Asset Fund for Users) program for user protection. Coinbase ranks second with 98% of assets held offline and licensing by BaFin in Germany alongside advanced security protocols. Kraken is third, storing 95% of assets in cold wallets while adhering to regulations across the EU and other regions.
BaFin, the Federal Financial Supervisory Authority of Germany, oversees the stability and integrity of Germany's financial system. It supervises banks, financial services institutions, payment institutions, e-money institutions, insurers, asset managers, and other related entities. BaFin’s responsibilities include solvency supervision, market supervision to ensure fair and transparent conditions, and preventing misuse for money laundering or terrorist financing, according to BaFin.
