German watchdog accuses CoinBene of unlicensed cryptocurrency trading

Cryptocurrency trading platform CoinBene has been put under the microscope again following an announcement from one of Germany‘s top financial regulators. The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has issued a warning against the cryptocurrency exchange stating that it is operating without a license. What’s more, the BaFin claims CoinBene has been recruiting freelance cryptocurrency traders to perform trades on behalf of the exchange. CoinBene LTD Germany is not registered on the commercial register in the country, the announcement reads. In Germany, cryptocurrencies are typically classed as “financial instruments.” As such, trading the digital assets on behalf of clients should be conducted…

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