Bafin命令Ethena GmbH停止其USDE Stablecoin的公共销售

这是在德国金融市场监管机构发现Ethena GmbH的USDE批准过程中的严重缺陷之后。

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

德国联邦金融监督管理局巴芬已命令埃塞纳（Ethena）GmbH停止其Stablecoin USDE的所有公共销售。

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

这是在德国金融市场监管机构发现Ethena GmbH的USDE批准过程中的严重缺陷之后。

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.

根据Bafin的公告，2025年3月21日，Ethena（ENA）合成美元Ethena USDE的公共销售违反了Crypto资产注册规则的欧盟市场。

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.

由于Stablecoin法规是欧盟的主要执法优先事项之一，因此缺乏MACAR合规性已成为Stablecoin发行人的关键障碍。

“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.

监管机构说：“ Bafin还具有合理的理由，以怀疑德国的Ethena GmbH以EthenaOpco。Ltd。的Susde代币形式出售证券。”监管机构说。

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

因此，巴芬已下令埃塞纳立即停止向公众销售。

Enforcement measures

执法措施

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.

执法措施包括埃塞纳（Ethena）的托管人持有的USDE储量冻结。此外，需要Ethena GmbH关闭其网站门户并停止注册新客户。

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.

尽管已禁止Ethena GmbH出售USDE，但该订单仅适用于初级销售。在这种情况下，巴芬的订单不会影响次要销售。埃塞纳实验室（Ethena Labs）在新闻后发表了关于X的声明。

“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.”

“我们今天被告知，埃塞纳（Ethena）在MICAR监管框架下的申请将不会被授予。尽管我们对这一决定感到失望，但我们将继续评估替代性框架。”

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

根据加密平台的说法，巴芬的订单不会影响Stablecoin的清单。

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.

该决定还不会影响公司在英属维尔京群岛注册的公司Ethena Limited的铸造和救赎，该公司处理大多数USDE铸造。

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

“ USD仍然得到完全支持的[埃塞纳（Ethena）所指出的没有“冻结”的资产。