BaFin has finalized its cease and desist order against Karatbars International.

BaFin, Germany’s top financial regulator, issued Karatbars with a cease and desist back in late 2019.

BaFin finalized the order on April 12th ordering Karatbars, operating as Karatbit Foundation, a Belize shell company,

to stop and wind up the electronic money business Karatbit is conducting in Germany based on the issuance of the “KaratGoldCoin” without the necessary licence.

Karatbars International and associated companies are owned and operated by Harald Seiz.

After a very public meltdown in late 2020, Seiz spent the first half of 2021 repairing his damaged reputation on social media.

In June 2021 Seiz announced a Karatbars International reboot, centered around a “Lifebase” shitcoin.

Seiz later deleted the announcement. As far as I know neither the reboot or Lifebase eventuated.

In late 2021 BehindMLM caught wind of renewed attempts to resurrect Karatabars.

As of yet nothing has eventuated from that discourse either.