The Federal Financial Supervisory Authority (BaFin) has issued a new warning concerning Aktien Network, which is allegedly offering financial, investment, and crypto asset services without the required authorization on a newly launched website. This announcement was made in a news release dated April 3, 2025.
According to BaFin, the website aktiennetwork.uk is operated by unidentified individuals suspected of providing unauthorized services following the deactivation of their previous site, aktiennetwork.net. BaFin stresses that in Germany, all entities providing such services must be authorized by them. The authorization status of companies can be verified through BaFin’s company database. The warning is issued under section 37(4) of the German Banking Act (KWG) and section 10(7) of the German Cryptomarkets Supervision Act.
The German Crypto Markets Supervision Act (KMAG), effective from December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It emphasizes market transparency, operational resilience, and compliance with European crypto regulations. KMAG mandates that crypto service providers secure licenses and maintain robust systems to ensure transparent practices within the sector. This framework aims to support secure and compliant market operations aligned with EU standards.
Blockpit's analysis ranks Binance as Europe's safest licensed cryptocurrency exchange due to its regulation across multiple European countries, AES-256 encryption, and the SAFU (Secure Asset Fund for Users) program for user protection. Coinbase follows in second place with 98% of assets held offline and licensing by BaFin in Germany. Kraken ranks third by storing 95% of assets in cold wallets and adhering to regulations across the EU and other regions.
BaFin 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 related entities. Its responsibilities include solvency supervision and market supervision to ensure fair conditions while preventing misuse for money laundering or terrorist financing.
