Major cryptocurrency custody firm BitGo is expanding its regulatory compliance in Germany by obtaining a cryptocurrency license from the German Federal Financial Supervisory Authority (BaFin). BitGo has been storing crypto assets for its clients under the supervision of BaFin since 2019. The German license secures BitGo’s presence in the European market and is an important milestone for the company. BitGo’s regulatory milestone in Germany is a sign of growing cryptocurrency adoption in the country. In other news, the decentralized peer-to-peer lending platform Onyx Protocol lost roughly $2.1 million in an exploit of a market with no liquidity. The hacker exploited a known bug and manipulated the exchange rate to steal the funds. Consistent hack attempts require a greater understanding of tracking cryptocurrencies using blockchain analysis.