德國的Bafin Bans Bans Bans USDE代幣產品來自Ethena GmbH，凍結資產儲量

德國的金融監管機構巴芬（Bafin）已經確定了埃塞娜（Ethena）gmbH的批准程序的大量缺陷。

Germany's financial regulator, BaFin, has identified significant deficiencies in Ethena GmbH’s approval process for its USDe tokens, leading to immediate supervisory measures.

德國的金融監管機構巴芬（Bafin）已經確定了埃塞納（Ethena GmbH）的USDE代幣批准過程中的嚴重缺陷，從而立即採取了監督措施。

As a result, BaFin has banned the public offering of the USDe tokens and ordered the freezing of the company’s asset reserves held by depositary agencies. This action follows an application by Ethena GmbH for approval under the Markets in Crypto-Assets Regulation (MiCA).

結果，巴芬禁止公開募股USDE代幣，並下令凍結公司的資產儲備。該行動遵循Ethena GmbH在Crypto-Assets法規（MICA）中申請批准的申請。

Moreover, BaFin suspects that Ethena GmbH has been offering securities in Germany without an approved prospectus. Further regulatory steps, which may include a ban on these offerings, are being contemplated.

此外，巴芬（Bafin）懷疑埃塞娜（Ethena）gmbH一直在未經批准的招股說明書的情況下提供德國的證券。正在考慮進一步的監管步驟，其中可能包括對這些產品的禁令。

5.4 Billion USDe Tokens Circulate Globally

54億美元的代幣在全球播放

Based in Frankfurt am Main, Ethena GmbH is the issuer of the USDe token, recognized as an asset-referenced token under MiCA. The company utilizes various crypto assets and an algorithmic hedging strategy to maintain parity with the US dollar.

Ethena GmbH總部位於Frankfurt Am Main，是USDE代幣的發行人，在Mica下被公認為是資產引用的令牌。該公司利用各種加密資產和算法對沖策略來保持與美元的均等。

Issuers of asset-referenced tokens can operate transitional periods as stipulated by MiCA. Ethena GmbH had applied for approval but began issuing USDe in Germany before it was granted.

資產引用的代幣的發行人可以按照雲母規定的過渡期運營。 Ethena GmbH已申請批准，但在批准之前就開始在德國發行USDE。

Currently, around 5.4 billion USDe tokens are in circulation, with a significant portion issued outside Germany before MiCA’s implementation. Additionally, Ethena BVI Limited, based in the British Virgin Islands, has been issuing the token since the beginning of 2025.

目前，大約54億美元的USDE代幣正在流通，在MICA實施之前，在德國以外的地方發行了很大一部分。此外，自2025年初以來，總部位於英屬維爾京群島的Ethena BVI Limited（Ethena BVI Limited）一直在發行令牌。

During its review, BaFin identified shortcomings in Ethena GmbH’s business organization and non-compliance with MiCA’s provisions on asset reserves and capital.

在審查期間，巴芬確定了埃塞納（Ethena GmbH）的業務組織中的缺點，並且不遵守MICA關於資產儲量和資本的規定。

The regulator will provide further updates once the approval process concludes.

一旦批准過程得出結論，監管機構將提供進一步的更新。