The German Federal Financial Supervisory Authority (BaFin) has issued a new warning concerning Interactive Assets, which is reportedly offering financial, investment, and crypto asset services without the necessary authorization on a newly launched website. This announcement was made in a news release dated April 3, 2025.
According to BaFin, multiple warnings have been issued regarding the website interactiveassets.cc. Previous alerts were released on January 27, February 12, and March 6 of this year. The operators of this website are suspected of offering unauthorized services and have allegedly contacted consumers under false pretenses. They claim affiliations with Baden-Württembergische Wertpapierbörse GmbH or Börse Stuttgart GmbH and misrepresent that they are supervised by BaFin. This activity constitutes identity fraud. BaFin's warning is issued under section 37(4) of the German Banking Act (KWG) and section 10(7) of the German Crypto Markets Supervision Act.
The German Crypto Markets Supervision Act (KMAG), effective from December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It aims to enhance 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. This 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 across multiple European countries, AES-256 encryption, and the Secure Asset Fund for Users (SAFU) program for user protection. Coinbase ranks second with its assets predominantly held offline and licensing by BaFin in Germany. Kraken follows in third place with most assets stored in cold wallets while adhering to regulations across Europe and other regions.
BaFin is responsible for overseeing 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 ensuring fair market conditions while preventing misuse for money laundering or terrorist financing.