Coinbase Under German Scanner, Asked to Disclose Details on Business Practices

The Federal Financial Supervisory Authority of Germany (BaFIN) has issued an order asking Coinbase to provide details on the business practices of its local arm. BaFin has raised an issue against Coinbase’s Germany arm outsourcing parts of its operations as ‘essential’ for conducting banking business. As per the German regulations, its local Coinbase arm must be...