Ethena Labs: has reached an agreement with German regulators not to seek MiCAR authorization in the country

Odaily News Ethena Labs posted on the X platform that it has reached an agreement with the German regulator BaFin to gradually end all activities of Ethena GMBH and will no longer seek MiCAR authorization in Germany.
As previously stated, Ethena GmbH has not conducted any minting or redemption activities since March 21, 2025, and all activities have been performed by Ethena (BVI) Limited without any suspension or issues. All whitelisted minting and redemption users who previously interacted with Ethena GmbH have been onboarded to Ethena (BVI) Limited at their request and no longer have any ongoing relationship with Ethena GmbH.