All we need to do is analyze all articles issued by the German financial regulatory body, BaFin.
The first article they published was at April 10. 2017. The title says it all:
As we know global MLM companies do not register branches all over the world. Instead, leaders register a company on their own and collect money from MLM company's products from that country and in agreed intervals transfers it to the main company's account.IMS International Marketing Services GmbH: account freezing and winding-down of unauthorized money remittance business
So IMS international seems to be owned by one of Onelife leaders. I came to know it was Frank Rickets and his company was used as Service Provider, who supported OneLife in Payment Facilitation and Marketing Services and IMS was supposed to obtain a license for "money remittance" services as IMS business was categorized as such by Bafin. So IMS was blocked and it was supposed to obtain a license for that. I have no idea what he will do but I know that Onelife/Onecoin do not use his company anymore.
Haters will say that IMS was a shell company of Onecoin but that is their ignorance on how MLM works.
So the fact is, Bafin recognized as IMS was doing money transmittance services for Onecoin ltd Dubai and they did not have a license for that so they were blocked.
Onelife company issued an official statement that this article was not their fault cause IMS was supposed to obtain that license, not Onelife/Onecoin:

After this official statement, a new order was issued on April 18, 2017, but this time against the IMS client - Onecoin LTD Dubai.
I will just quote a title cause the rest of article is not so important, the title sums it all:
So, following IMS prohibition, also Onecoin was prohibited in dealing with money remittance business until they obtain a license.Onecoin Ltd, Dubai: Prohibition of involvement in unauthorized money remittance business
Except, Onecoin was never involved in money remittance in Germany so this order is probably just in case they do, this is just a warning: "if you want to do it, obtain a license". My opinion of course.
After the money transmittance business has been taken care of by BaFin, they seemed to investigate what Onelife/Onecoin do and they kinda recognised Onecoin as a crypto currency and we all know what are cryptocurrencies involved in so, despite Onecoin being still private, BaFin seem to know the plan to releasing it to public, they made another prohibition of promoting Onecoin until a financial license is obtained from the BaFin.
It is this order from April 27, 2017. Title says:
So Onelife was ordered to stop fund trading in Onecoins. This is so unclear since Onelife sells Education, not Onecoins but as transparent and compliant Onelife company is, they issued an official statement on April 28, 2017, that until they clear this with Bafin, promotional tokens will not be granted in Germany as a precaution. If anyone says this compliant company is a scam then God help you.Onecoin Ltd (Dubai), OneLife Network Ltd (Belize) und One Network Services Ltd (Sofia/Bulgaria): BaFin issues cease and desist orders holding the companies to stop own funds trading in “OneCoins” in Germany

Here is the key paragraph that explains why Onelife/Onecoin got cease and desist:
They simply recognise Onecoin as financial service and demand the company to obtain a license from Bafin. This is not ban as haters spin it to be.Today’s cease and desist orders are based on the conclusion that the way Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize have “OneCoins” traded as virtual currency in Germany comes down to Eigenhandel (own funds trading) of financial instruments in the meaning of § 1 (1a) sentence 2 no. 4 of the German Federal Banking Act (“KWG”). Eigenhandel as financial service would have required prior authorization by BaFin according to § 32 (1) KWG.
So on recent "Ask dr Ruja" webinar, this issue was being addressed.
I made a transcript:
More information about the situation in Germany and Italy is what people have been asking frequently. What are future predictions for the current members and for the people who want to join from these countries?
UK Is the best example how payments should be done. We know that in the UK, IMAs use SuperCapital financial services platform that has all required licenses, unlike IMS in Germany. This is how smart IMAs work, not like others who open their own money transmittance company without a license.dr Ruja:
We as a company are aware and we are speaking with all regulatory bodies in Europe. Europe is a very important market for us so what we have done, we are filing for a financial license in Germany as this is an important market for us and as I said Onecoin is interested in being on the market for long long time.
So it takes time, the filling process is pretty complicated as you can imagine, also the documents acquired are quite extensive but we are providing them and when ever we hear back from the authorities from the licensing process we will let you know.
This is what is extremely important to us and we are really focus into education of the market and some of the leaders oversell, are too aggressive and again, we as a company do not tolerate people who are over selling or selling this opportunity on the wrong way.
So in situation in Germany and Italy again summarizing, we are on this, we are monitoring this very carefully, but I also would like leaders to be very responsible, and as I said, compliance is punishing people who act as they shouldn't and also you guys in the network, please take care of your people because they just damage them selves, you, all your members.
