Germany’s Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website coinprimemarket.com.
According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
The operator uses the name Coinprime Market, and there is no information regarding its legal form. The website lists a US business address in New York. The operator claims to be licensed by the Financial Regulatory Services Authority (FRSA), but it is unclear which supervisory authority this supposedly refers to.
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.