Germany’s Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on coinprimemarket.com.
According to information available to BaFin, the operator provides financial and investment services on this website without the required authorization.
The operator uses the name Coinprime Market and there is no information about 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 not clear which supervisory authority it is supposedly referring to.
Anyone providing financial or investment services in Germany can only do so with authorization from BaFin. However, some companies offer these services without the necessary authorization. Information on whether a particular company is licensed by BaFin can be found in BaFin’s company database.