The Federal Financial Supervisory Authority (BaFin) has issued another consumer warning regarding Quantum AI, a company allegedly offering unauthorized crypto and financial services through new websites. This announcement was made in a news release on March 25, 2025.
According to BaFin, warnings have been issued concerning the websites quantumaiplatform.com and quantumai.co. The operators are suspected of providing financial, investment, and crypto asset services without proper authorization. This follows earlier warnings from August 2022 and February 2025. These warnings are based on section 37(4) of the German Banking Act (KWG) and section 10(7) of the German Crypto Markets Supervision Act (KMAG), as said in BaFin's news release.
The German Crypto Markets Supervision Act (KMAG), effective since December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It focuses on market transparency, operational resilience, and compliance with European crypto regulations. The KMAG mandates that crypto service providers secure licenses, maintain robust systems, and ensure transparent practices within the sector. This framework aims to support secure and compliant market operations in alignment with EU standards.
Blockpit’s analysis ranks Binance as Europe's safest licensed cryptocurrency exchange due to its regulation across multiple European countries, AES-256 encryption, and the SAFU (Secure Asset Fund for Users) program for user protection. Coinbase is ranked second, holding 98% of assets offline and being licensed by BaFin in Germany with advanced security protocols. Kraken ranks third by storing 95% of assets in cold wallets while adhering to regulations across the EU and other regions.
BaFin has also issued a warning about EmexFunding, suspecting it offers financial, investment, and crypto asset services without necessary authorization. The company claims to operate under the name EmexFunding GmbH with a registered office in Corby, United Kingdom; however, no such entity exists. EmexFunding GmbH reportedly encourages consumers to take out loans for trading financial instruments and crypto assets through a document called a "Handelskreditvertrag," according to BaFin's news release.