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Crypto.com exits the German market

The crypto exchange aimed to boost its visibility in the German market with several large advertising campaigns.

By Finst News
• 3 min read
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Crypto.com exits the German market

The crypto exchange aimed to boost visibility in the German market with several big ad campaigns. Now BaFin is reportedly investigating.

According to financefwd BaFin is investigating the crypto exchange Crypto.com. The company allegedly made false statements about a license partnership with the German provider CM-Equity and thereby carried out unauthorized marketing in the German market. Crypto.com needs certain licenses to run targeted advertising. According to Financefwd, those licenses were not present, Financefwd itself reports. There are now no references on the company’s website to a collaboration with CM-Equity.

1.3 million downloads in Germany

According to estimates, the Crypto.com app has been downloaded about 1.3 million times in Germany. It is still available, but no longer in German. Meanwhile the exchange points to its EMI license. The company says it has reached all customers in the European Economic Area, including those living in Germany, via our properly licensed and authorized entities, the exchange tells financefwd.

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