The German Federal Financial Supervisory Authority (BaFin) has issued a warning regarding Immediate Vision, which is reportedly offering financial, investment, and cryptocurrency services without the necessary authorization through various websites. This announcement was made in a news release on April 3, 2025.
According to BaFin, Immediate Vision and its associated websites—immediate-visions.com, theimmediatevision.com, immediate-vision.eu, and ertdomed.com—are suspected of providing unauthorized services. In Germany, such services are only permissible by companies authorized by BaFin. Consumers are advised to consult BaFin’s company database for information on authorized firms. The warning is based on 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. The KMAG mandates that crypto service providers secure licenses and maintain robust systems to ensure transparent practices within the sector.
Blockpit's analysis ranks Binance as Europe's safest licensed cryptocurrency exchange due to its regulation in multiple European countries and advanced security measures like AES-256 encryption and the Secure Asset Fund for Users (SAFU). Coinbase follows in second place with significant offline asset storage and licensing by BaFin in Germany. Kraken ranks third with a high percentage of assets stored in cold wallets.
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, among others. Its responsibilities include solvency supervision and market supervision to ensure fair conditions while preventing misuse for money laundering or terrorist financing.