Bafin命令Ethena GmbH停止其USDE Stablecoin的公共銷售

這是在德國金融市場監管機構發現Ethena GmbH的USDE批准過程中的嚴重缺陷之後。

The German Federal Financial Supervisory Authority, BaFin, has ordered Ethena GmbH to stop all public sales of its stablecoin USDe.

德國聯邦金融監督管理局巴芬已命令埃塞納（Ethena）GmbH停止其Stablecoin USDE的所有公共銷售。

This comes after the German financial markets regulator found serious flaws in Ethena GmbH’s USDe approval process.

這是在德國金融市場監管機構發現Ethena GmbH的USDE批准過程中的嚴重缺陷之後。

According to the BaFin announcement on March 21, 2025, the public sales of Ethena (ENA) synthetic dollar Ethena USDe violate the European Union’s Markets in Crypto Asset Registration rules.

根據Bafin的公告，2025年3月21日，Ethena（ENA）合成美元Ethena USDE的公共銷售違反了Crypto資產註冊規則的歐盟市場。

With stablecoin regulation being one of the EU’s major enforcement priorities, a lack of MiCAR compliance has become a key obstacle for stablecoin issuers.

由於Stablecoin法規是歐盟的主要執法優先事項之一，因此缺乏MACAR合規性已成為Stablecoin發行人的關鍵障礙。

“The BaFin also has reasonable grounds to suspect that Ethena GmbH in Germany sells securities in the form of sUSDe tokens from Ethena OpCo. Ltd. without the required prospectus,” the regulator said.

監管機構說：“ Bafin還具有合理的理由，以懷疑德國的Ethena GmbH以EthenaOpco。Ltd。的Susde代幣形式出售證券。”監管機構說。

BaFin has therefore ordered Ethena to immediately cease any sales to the public.

因此，巴芬已下令埃塞納立即停止向公眾銷售。

Enforcement measures

執法措施

The enforcement measures include a freeze on USDe reserves held by Ethena’s custodian. Additionally, Ethena GmbH is required to shut down its website portal and stop registering new customers.

執法措施包括埃塞納（Ethena）的託管人持有的USDE儲量凍結。此外，需要Ethena GmbH關閉其網站門戶並停止註冊新客戶。

While Ethena GmbH has been prohibited from selling USDe, the order only applies to primary sales. In this case, BaFin’s order does not affect secondary sales. Ethena Labs issued a statement on X following the news.

儘管已禁止Ethena GmbH出售USDE，但該訂單僅適用於初級銷售。在這種情況下，巴芬的訂單不會影響次要銷售。埃塞納實驗室（Ethena Labs）在新聞後發表了關於X的聲明。

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

“我們今天被告知，埃塞納（Ethena）在MICAR監管框架下的申請將不會被授予。儘管我們對這一決定感到失望，但我們將繼續評估替代性框架。”

According to the crypto platform, BaFin’s order doesn’t affect the stablecoin’s listing.

根據加密平台的說法，巴芬的訂單不會影響Stablecoin的清單。

The decision will also not affect minting and redemption through Ethena Limited, the company’s entity registered in the British Virgin Islands, which handles the majority of USDe minting.

該決定還不會影響公司在英屬維爾京群島註冊的公司Ethena Limited的鑄造和救贖，該公司處理大多數USDE鑄造。

“USDe remains fully backed [and] no assets have been "frozen" Ethena noted.

“ USD仍然得到完全支持的[埃塞納（Ethena）所指出的沒有“凍結”的資產。