BaFin issues Cease and Desist orders against unauthorized German payment processors
On October 19, 2020, German regulator BaFin issued two Cease and Desist Orders against the two unauthorized payment processors ION & Maga Consulting GmbH and Premium Service ECN GmbH. Both of them processed bank transfers for the illegal brokers BlueTrading, CoinBrokerz, and TradeDAX respectively.