German financial regulator prohibits sales of Ethena GmbH USDe

BaFin, the German financial regulatory authority, has prohibited all public sales of Ethena GmbH’s USDe — a synthetic dollar — claiming that the token violates the European Union’s MiCAR regulations. According to the announcement from the regulator, BaFin has ordered the firm to freeze the reserve assets that back the token, close down the website portal, and has ordered the firm to stop taking new customers. In a translated statement, the regulator wrote: "The BaFin also has reasonable grounds to suspect that Ethena GmbH in Germany sells securities in the form of sUSDe  tokens from Ethena OpCo. Ltd source: https://cointelegraph.com/news/german-financial-regulator-prohibits-sales-ethena-gmbh-usde?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound