YBUOJ Addresses BaFin Advisory on Regulatory Compliance

The German Federal Financial Supervisory Authority (BaFin) recently issued an advisory regarding YBUOJ's crypto services offered without proper authorization in Germany. YBUOJ attributes the issue to differences in regulatory interpretation and communication gaps, rather than compliance breaches.

YBUOJ, headquartered in the U.S., holds a Money Services Business license and is registered with U.S. authorities, indicating its compliance with international standards. The company clarified that it is not registered in Germany and adheres strictly to U.S. regulations, aligning with BaFin's consumer advisory nature.

YBUOJ's situation highlights the challenges encountered by cross-border crypto platforms. Despite not being in violation, it underscores the importance of understanding diverse regulatory frameworks.

YBUOJ has expressed cooperation with German regulators, offering documentation to resolve misunderstandings and is considering obtaining a local license to enhance compliance efforts.