Danish FSA Denies Crypto License Applications for BigeDirect and Fuse Loyalty

2026-05-10 09:55

The Danish Financial Supervisory Authority (FSA) has rejected the cryptocurrency asset service provider license applications of BigeDirect ApS and Fuse Loyalty ApS. The rejections were based on insufficient physical presence in Denmark and unclear decision-making and operational controls, which hinder effective regulatory oversight. Additionally, Fuse Loyalty was criticized for outsourcing significant business operations to entities outside Denmark and the EU, compromising its independence. The company is required to cease related activities immediately following the decision.

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