BaFin Clarifies Crypto Investments Are Not Protected by Deposit Insurance

The German financial market supervisor, the Federal Financial Supervisory Authority (https://www.financemagnates.com/cryptocurrency/bafin-warns-investors-of-crypto-trading-advices-on-social-media/” target=”_blank” rel=”noopener”>BaFin) clarified on Monday that deposit insurance protection in the mainstream financial industry does not cover losses with cryptocurrencies.“BaFin now points out that crypto-assets do not fall under the protection of deposit insurance and…