The Federal Financial Supervisory Authority (BaFin) has issued a consumer warning concerning Capitus, which is allegedly offering unauthorized banking and financial services through a new website. This announcement was made in a news release on January 21, 2025.
According to BaFin, the warning about Capitus and its new website, capitus.pro, follows a previous alert regarding the now-deactivated capitus.net. The regulator suspects the platform of providing unauthorized financial services and notes its similarity to other flagged sites with identical content and slogans.
Section 37 of the German Banking Act (KWG) permits BaFin to take action against unauthorized banking activities or financial services. If a company operates without necessary licenses or engages in prohibited transactions, BaFin can order the cessation of operations and appoint a liquidator for settlement. Furthermore, BaFin has the authority to inform the public if a company is suspected or found to be engaging in unauthorized activities. Should the information prove false, BaFin is required to correct it.
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 Secure Asset Fund for Users (SAFU) program for user protection. Coinbase is ranked second, with 98% of assets held offline and licensing by BaFin in Germany. Kraken ranks third, 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 by supervising banks, financial services institutions, payment institutions, e-money institutions, insurers, asset managers, and related entities. Its responsibilities include solvency supervision, market supervision to ensure fair conditions, and preventing misuse for money laundering or terrorist financing. Since May 1, 2002, BaFin has been responsible for regulating and supervising the financial sector following the merger of three federal supervisory offices.