According to publicly available information, YBUOJ is headquartered in the United States, where it holds a Money Services Business (MSB) license issued by the Financial Crimes Enforcement Network (FinCEN) and is registered with the U.S. Securities and Exchange Commission (SEC). These credentials confirm that YBUOJ operates under recognized federal oversight and meets established international compliance standards.
In response to the concerns of BaFin, YBUOJ promptly clarified that it is not registered in Germany and that all of its operations strictly follow U.S. regulatory requirements. This statement aligns with the nature of the notice of BaFin, which is categorized as a routine consumer advisory rather than an administrative sanction.
Such scenarios are not uncommon in the crypto industry. Binance, for example, is generally well-regarded in Germany, yet it has faced serious warnings or service restrictions in countries like the UK, Canada, and Japan due to lacking local regulatory approval. These cases underscore that recognition of foreign compliance credentials varies widely across jurisdictions.
The mention of YBUOJ in the advisory of BaFin highlights the broader challenges cross-border crypto platforms face in navigating differing national regulatory frameworks, where misunderstandings and communication gaps can easily arise.
In light of the situation, YBUOJ has expressed its willingness to fully cooperate with German regulators, offering relevant documentation and compliance materials to clarify the facts and dispel any misconceptions. In addition, YBUOJ also indicated it may seek to obtain a local license in Germany in the future to better meet regional regulatory requirements.
In conclusion, this incident appears to be a matter of regional regulatory misunderstanding, not substantive wrongdoing. The prompt, constructive response and solid compliance foundation of YBUOJ reflect its strategic commitment to global regulatory alignment—and offer a reference point for other industry participants in managing cross-jurisdictional compliance.
Hashtag: #YBUOJ
The issuer is solely responsible for the content of this announcement.
