The German financial services startup, Neufund, announced via a blog post on Sunday that it has decided to shut down its equity token offering platform. Citing a lack of regulatory clarity concerning blockchain-based companies, the company announced that they now plan to pivot to working on an unspecified new product. Speaking to reporters, Neufund CEO Zoe Adamovicz blamed Germany’s Federal Financial Supervisory Authority (BaFin) for refusing to clarify its stance, stating that the regulator’s position was to “shy away from risk and responsibility”.