German Financial Regulator, BaFin, Halts Karatbit’s Gold Backed Crypto (KBC) Distribution

2019-11-14 21:00

German financial regulator, BaFin, recently ordered Karatbit to close its operations within the country’s FinTech ecosystem. Karatbit, a blockchain-oriented business, had launched a gold-backed crypto coin as well as other products that are currently in distribution.

The crypto being issued by Karatbit is dubbed ‘KaratGoldCoin’ (KBC); the firm has however been doing so against the […].

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