The German Federal Financial Supervisory Authority (BaFin) has issued a new warning regarding Revolvo, a platform accused of offering financial, investment, and crypto asset services without the necessary authorization. This warning pertains to a website operated by unknown parties.
According to BaFin, the website revolvo.cc is suspected of providing unauthorized services in these sectors. Previous warnings were issued on March 5 and April 1, 2025, concerning related sites revolvo.pro and revolvo.online, which have since been deactivated. The operators of these sites are said to falsely claim connections to Baden-Württembergische Wertpapierbörse GmbH or Börse Stuttgart GmbH, representing a case of identity fraud. BaFin's warning is issued under section 37 (4) of the German Banking Act 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 focuses on market transparency, operational resilience, and compliance with European crypto regulations. The KMAG requires crypto service providers to 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 security measures like AES-256 encryption. Coinbase ranks second with significant offline asset storage and licensing by BaFin in Germany. Kraken follows in third place with a high percentage of assets stored in cold wallets.
BaFin is responsible for overseeing the stability and integrity of Germany's financial system. It supervises various financial entities including banks, insurers, and asset managers. Its responsibilities include ensuring solvency supervision and preventing misuse for money laundering or terrorist financing.