Osborne Clarke advises crypto broker Anycoin Direct on BaFin licence application

Osborne Clarke has advised the Dutch crypto platform Anycoin Direct GmbH on its successful application for the necessary licences to launch in Germany.

Anycoin Direct has proven that the cryptocurrency sector can be accessible and user-friendly. The platform has been in operation since 2013 and is praised for its fast and personalised customer service. This customer-friendly approach has since made Anycoin Direct one of the most trusted cryptocurrency platforms in Europe. Over the past decade, Anycoin Direct has grown significantly and expanded its services and customer base across Europe.

Germany is the next stop in this expansion plan: Until now, Anycoin Direct was not authorised to provide its services here. This is now set to change: The company has successfully applied to the German Federal Financial Supervisory Authority (BaFin) for the necessary regulatory licences for proprietary trading and crypto custody. The BaFin licence is the third European licence that Anycoin Direct has received after the licences from DNB (Netherlands) and the FMA (Austria).

This is because in Germany, cryptocurrencies are financial instruments in the form of crypto assets, and commercial trading and the safekeeping of crypto assets for customers are subject to a licence requirement in Germany. BaFin issues this licence provided the applicant meets the numerous procedural and technical requirements necessary in Germany.

Anycoin Direct has now successfully completed this process and received the necessary licences. The Osborne Clarke team that assisted in this process, led by Dr Robert Oppenheim, consisted of Lilly Pfaf and Sascha Grimm (all FinTech / Regulatory).