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  • Article

Name

German Regulator Identifies 'Deficiencies' in Ethena's USDe, Orders Immediate Issuance Halt

Description

The German financial supervisory authority BaFin said it identified "serious deficiencies" in Ethena's USDe token, which the company calls a synthetic dollar, and forbade the issuer from offering it to the public with immediate effect.

Types

Article

Authors

Oliver Knight

Publish date

12:00am, Friday, March 21, 2025

Publisher

CoinDesk

Web URL

https://www.coindesk.com/business/2025/03/21/german-regulator-identifies-deficiencies-in-ethena-s-usde-stablecoin

Referenced by

BaFin halted Ethena’s USDe offering in Germany

Crypto news

News story

BaFin…forbade the issuer from offering it to the public with immediate effect.

Crypto news

Quote

BaFin has identified, among other things, serious deficiencies in the bank's business organization and violations of MiCAR requirements

Crypto news

Quote