ChainCatcher news, reported by Ledger Insights, that the German Parliament has passed the "Financial Market Digitalization Act."

This legislation not only pertains to cryptocurrencies and MiCAR but also affects other EU laws such as DORA and the funds transfer regulation. Most of the EU's cryptocurrency market regulations (MiCAR) will come into effect by the end of the year, but German companies are unable to obtain MiCAR cryptocurrency licenses issued by BaFin due to legislative delays. Foreign companies can operate freely in Germany and the EU after obtaining licenses elsewhere. Each country must designate a regulatory authority to issue licenses to cryptocurrency service providers, with Germany's being BaFin, but the relevant draft legislation has previously not been passed.