Bitclub Network Inc. sells mining hardware and offers its operation as part of a mining pool. The rental members then receive the mined bitcoins after deducting a quota for electricity and operation.
As part of an official process, which was accompanied by our law firm, the Federal Financial Supervisory Authority (BaFin) made a legal assessment of the business model with regard to the question of whether the Bitclub needs permission from BaFin for its offers. The result is that no permission is required and it is a legal business. Specifically, BaFin announced in a letter dated November 19, 2018 that Bitclub Network Inc.
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