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In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin wishes to clarify that the operator of the trading platform primecryptocapital.com does not have authorisation under the KWG to conduct banking business or provide financial services. The company is not subject to BaFin’s supervision.
Based on the contents of the website primecryptocapital.com and on information and documents available to BaFin, there are grounds to suspect that the company is conducting banking business and/or providing financial services in the Federal Republic of Germany without the required authorisation.
The website does not contain a legal notice or any other information regarding the company’s registered office. According to the terms and conditions, the company is subject to Estonian law. On its website, the company refers to itself both as “PrimecryptoCapital” and as “BancDeLuxembourg”. Under the terms and conditions, the company states that “PrimecryptoCapital is operated under the umbrella of Tradestone Ltd license number 331/17.” BaFin has no evidence of the platform’s actual involvement with Tradestone Ltd., Limassol, which is authorised by the Cyprus Securities and Exchange Commission (CySEC).
