German watchdog says Wirecard mistakes have made it more willing to ‘step on toes’

The German financial regulator BaFin, under chief Mark Branson, has acknowledged past failures in overseeing Wirecard and claims to have transformed into a more proactive institution since the company’s collapse in 2020. With enhanced powers and a focus on cryptocurrencies, BaFin aims for smarter regulation while addressing past shortcomings and restoring trust in German capital markets.

Explain It To Me Like I’m 5: BaFin, Germany’s financial watchdog, has learned from its mistakes after the Wirecard scandal and is now more proactive in making sure companies follow the rules and keeping people’s money safe.

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