The application for a national license for the crypto custody business has been withdrawn, as Leondrino’s present business up to and including token class C is exempt from a permit. We will submit a new application for a license to the BaFin for the business for the Leondrino token classes B and A, which is likely to require authorization, as soon as the MiCA regulation valid for Europe has been implemented into national law with a passportable license. The focus is on cost awareness, and the decision was made not to onboard any new B2B customers until there is regulatory clarity.
