Bafin暫停了Ethena GmbH發行的USDE代幣的公共銷售

德國金融監管局巴芬已下令停止Ethena GmbH發行的所有公共銷售USDE代幣。

The German financial regulatory authority, BaFin, has ordered a suspension of all public sales of the USDe token issued by Ethena GmbH.

德國金融監管局巴芬已下令暫停Ethena GmbH發行的USDE代幣的所有公共銷售。

According to a statement by BaFin on Friday, the decision to halt the token sales follows concerns that the token violates European Union regulations and could be deemed an unregistered security.

根據巴芬週五的一份聲明，決定停止代幣銷售的決定遵循令牌違反歐盟法規的擔憂，可以被視為未註冊的安全性。

Located in Frankfurt, Ethena GmbH has been developing a stablecoin that is pegged to the US dollar. The regulator began examining the token after it was launched in June 2024.

Ethena GmbH位於法蘭克福，一直在開發一種與美元掛鉤的Stablecoin。監管機構於2024年6月推出後開始檢查令牌。

During the course of the investigation, BaFin has accused Ethena GmbH of significant compliance failures, ultimately leading to the ban on the primary offering of the token.

在調查過程中，巴芬指責埃塞娜（Ethena）gmbh犯有重大合規性失敗，最終導致禁止代幣的主要產品。

BaFin Halts USDe Token Sales by Ethena GmbH

Bafin停止了Ethena GmbH的USDE代幣銷售

Bafin停止了Ethena GmbH的USDE代幣銷售

In its order, BaFin has instructed Ethena GmbH to cease selling the USDe token to the public. The German regulator has also imposed restrictions on the company’s use of the reserves to support the token and has closed the online platform that the firm was using.

巴芬通過命令指示埃塞納（Ethena）gmbh停止向公眾出售USDE代幣。德國監管機構還對公司使用儲量支持代幣的限制施加了限制，並關閉了公司使用的在線平台。

Moreover, Echina GmbH will not be able to accept any new customers, as BaFin has prohibited it from doing so. These measures are designed to slow down the development of events relative to the legal rules set by MiCAR.

此外，echina gmbh將無法接受任何新客戶，因為巴芬禁止這樣做。這些措施旨在減慢與Micar設定的法律規則相對於事件的發展。

Consequently, in its announcement, BaFin has expressed concerns regarding the matter in which Ethena GmbH offered securities without prior registration in Germany.

因此，巴芬在公告中對Ethena GmbH提供證券而沒有事先在德國註冊的情況表示擔憂。

According to BaFin, the company is selling securities without a prospectus, a violation of German Securities Law. The regulator also mentioned the USDe token, which is a synthetic dollar and is linked to another token, sUSDe. This interconnection could deepen the regulation issue even more.

根據巴芬的說法，該公司正在出售沒有招股說明書的證券，違反了德國證券法。監管機構還提到了USDE令牌，該令牌是合成美元，與另一個令牌Susde相關。這種互連可能會進一步加深法規問題。

Investigation of Token Issuance Process

代幣發行過程的調查

代幣發行過程的調查

As part of its statement, BaFin noted that Ethena GmbH failed to follow some of the standard procedures in its approval process for issuing the USDe tokens.

作為其聲明的一部分，巴芬指出，埃塞納（Ethena Gmbh）在批准過程中未能遵循發行USDE代幣的一些標準程序。

The first question that arises is the lack of compliance with MiCAR, the new regulation of the European Union on crypto-assets. According to BaFin, the company failed to meet crucial requirements such as providing the necessary asset reserves and adhering to capital standards.

出現的第一個問題是缺乏遵守歐盟加密資產聯盟的新法規Micar。根據巴芬的說法，該公司未能滿足至關重要的要求，例如提供必要的資產儲備並遵守資本標準。

The regulator’s action falls under its oversight responsibilities assigned by MiCAR, which is focused on bringing stability and transparency to the crypto market.

監管機構的行動屬於Micar分配的監督責任，該責任的重點是將穩定性和透明度帶到加密市場。

Ethena GmbH had applied for regulatory approval of the USDe token under MiCAR. However, BaFin previously raised concerns about the company’s business organization and its ability to meet the standards set by the regulation.

Ethena GmbH已申請了Micar下的USD代幣的監管批准。但是，巴芬先前對公司的業務組織及其滿足法規設定的標準的能力提出了擔憂。

The regulator also pointed out that some of the tokens were issued before MiCAR came into effect, which could further complicate the approval process.

監管機構還指出，一些令牌是在Micar生效之前發行的，這可能會使批准過程更加複雜。

As part of the regulatory measures, BaFin has moved to freeze the reserve assets of Ethena GmbH, which are used to support the USDe token. This will affect customers who may wish to redeem their tokens.

作為監管措施的一部分，巴芬（Bafin）已提出凍結用於支持USDE代幣的Ethena GmbH的儲備資產。這將影響可能希望贖回其令牌的客戶。

The company’s platform for redeeming the tokens has been temporarily blocked as a result of the regulator’s actions. However, the suspension only applies to new sales and redemptions, while the secondary market for the token remains unaffected.

該公司贖回令牌的平台由於監管機構的行動而暫時被阻止。但是，暫停僅適用於新的銷售和贖回，而令牌的二級市場仍然不受影響。

To oversee the situation and ensure compliance with the regulator’s directives, BaFin has appointed a special representative.

為了監督情況並確保遵守監管機構的指示，巴芬任命了一名特別代表。

The regulator is continuing to review the case and will provide further updates once the licensing process is concluded. BaFin has also made it clear that it is actively working with other European bodies like the European Central Bank (ECB) and the European Securities and Markets Authority (ESMA) to address any potential issues regarding the USDe token.

監管機構正在繼續審查此案，並在確定許可過程後將提供進一步的更新。巴芬還明確表示，它正在與歐洲央行（ECB）和歐洲證券和市場管理局（ESMA）等其他歐洲機構積極合作，以解決有關USDE代幣的任何潛在問題。