🇩🇪 German regulator closed the case against Ethena Labs – original
In March, BaFin discovered violations of the requirements of the European regulation MiCAR and prohibited the company from further issuance of USDe tokens in the country.
Ethena Labs (#ENA) and the German regulator BaFin agreed on a 42-day plan for the redemption of the stablecoin #USDe – a peaceful resolution of the regulatory dispute.
After the deadline, the German division of Ethena Labs will be officially liquidated.