In a statement released on Friday, Germany’s financial watchdog BaFin cautioned that cryptocurrency trading site Rtcoin is not permitted to operate there and therefore, it was not authorized by KWG to provide financial services in Germany. Rtcoin Not Authorized by KWG The German “Kreditwesengesetz,” or “Bank Act,” governs how institutions that offer financing facilities must conduct their business. The scope of these restrictions also applies to German cryptocurrency exchange sites. The firm is not under BaFin’s supervision, according to today’s notification, which also stated that there are good reasons to believe that Rtcoin is operating as a bank and offering The post Crypto Exchange Rtcoin Not Licensed in Germany: BaFin appeared first on Cryptoknowmics-Crypto News and Media Platform .
