The German parliament recently passed the "Financial Market Digitalization Act", bringing new changes to the cryptocurrency market. 🎉 This legislation not only covers cryptocurrencies and MiCAR but also affects other EU laws such as DORA and the funds transfer regulation.

Although the European MiCAR regulations will take effect at the end of the year, German companies are temporarily unable to obtain MiCAR cryptocurrency licenses issued by BaFin due to legislative delays. However, foreign companies that obtain licenses elsewhere can freely operate in Germany and the EU, creating new opportunities and challenges for the market.

Each country must designate a regulatory authority to issue licenses to cryptocurrency service providers, and Germany's BaFin has finally received legal support. 🔍 This is undoubtedly a dynamic development worth paying attention to for market participants!