German regulator rejects Ethena Labs’ license application in the EU, suspects sUSDe is a security

Germany’s Federal Financial Supervisory Authority (BaFin) has rejected Ethena Labs’ application to issue asset-referenced tokens under the European Union’s Markets in Crypto-Assets Regulation (MiCAR). The regulator also raised concerns that the sUSDe may constitute an unlicensed security offering.. source: https://cryptoslate.com/german-regulator-rejects-ethena-labs-license-application-in-the-eu-suspects-susde-is-a-security/