Coinbase Germany Faulted by Regulator Over Governance Set-Up (1)

Coinbase Germany GmbH was ordered by the country’s financial regulator to fix deficiencies related to its organizational set-up.

The order was issued to the company in late September and has been in effect since Oct. 27, BaFin said in a statement on its website on Tuesday.

BaFin didn’t provide further details on the deficiencies, which it said were identified as part of a review of annual accounts.

Coinbase is cooperating fully and is committed to meeting all legal requirements for crypto custody firms in Germany, a spokeswoman said in an email to Bloomberg. The company has developed a remediation plan ...