The Federal Financial Supervisory Authority (BaFin) has issued a warning concerning Immediate Dash, which is reportedly offering financial, investment, and crypto asset services without the necessary authorization. This announcement was made in a news release on March 3, 2025.
According to BaFin, there are suspicions that the operators of immediate-dash.eu and immediate-dash.com are providing unauthorized services. In Germany, such activities require approval from BaFin, and consumers can verify a company’s authorization status through BaFin’s database. The warning is issued under the German Banking Act and the Crypto Markets Supervision Act.
The German Crypto Markets Supervision Act (KMAG), effective since December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It emphasizes market transparency, operational resilience, and compliance with European crypto regulations. The KMAG mandates that crypto service providers secure licenses and maintain robust systems to ensure transparent practices within the sector. This framework supports secure and compliant market operations aligned with EU standards.
Blockpit’s analysis ranks Binance as Europe’s safest licensed cryptocurrency exchange due to its regulation in multiple European countries, AES-256 encryption, and the Secure Asset Fund for Users (SAFU) program for user protection. Coinbase follows in second place with 98% of assets held offline and licensing by BaFin in Germany. Kraken ranks third by storing 95% of assets in cold wallets while adhering to regulations across the EU and other regions.
BaFin, the Federal Financial Supervisory Authority of Germany, oversees the stability and integrity of Germany’s financial system. It supervises banks, financial services institutions, payment institutions, e-money institutions, insurers, asset managers, and other related entities. BaFin’s responsibilities include solvency supervision, market supervision to ensure fair and transparent conditions, and preventing misuse for money laundering or terrorist financing.
