We were informed today that Ethena GmbH’s application under the MiCAR regulatory framework will not be approved,” the firm continued. “While we are disappointed by this decision, we will continue to evaluate alternative frameworks.

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We were informed today that Ethena GmbH’s application under the MiCAR regulatory framework will not be approved,” the firm continued. “While we are disappointed by this decision, we will continue to evaluate alternative frameworks.

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Regulator halts Ethena’s USDe stablecoin offering in Germany over concerns

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Ethena Labs responded to BaFin’s denial of its MiCA application by emphasizing that no user assets were frozen and stating it would explore alternative regulatory jurisdictions.

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