The Federal Financial Supervisory Authority (BaFin) has issued a warning regarding Revolvo for allegedly offering financial, investment, and crypto asset services without the necessary authorization. This announcement was made in a news release on April 3, 2025.
According to BaFin, the website revolvo.online is operated by unknown entities suspected of providing unauthorized services. Previously, these operators used revolvo.pro, which has since been deactivated. The operators are reportedly claiming fraudulent affiliation with Baden-Württembergische Wertpapierbörse GmbH or Börse Stuttgart GmbH. BaFin issued this warning under section 37(4) of the German Banking Act (KWG) and section 10(7) of the German Crypto Markets Supervision Act.
The German Crypto Markets Supervision Act (KMAG), effective from December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It aims to enhance 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.
Blockpit's analysis ranks Binance as Europe's safest licensed cryptocurrency exchange due to its regulation in multiple European countries and advanced security measures such as AES-256 encryption and the Secure Asset Fund for Users (SAFU) program. Coinbase is ranked second, noted for holding 98% of assets offline and being licensed by BaFin in Germany. Kraken takes third place with its adherence to EU regulations and storage of 95% of assets in cold wallets.
BaFin is responsible for overseeing 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. Its responsibilities include solvency supervision and market supervision to ensure fair conditions while preventing misuse for money laundering or terrorist financing.