ChainCatcher message, on Wednesday, the German Parliament (Bundestag) finally passed the bill, known as the "Financial Markets Digitalization Act" (Finanzmarktdigitalisierungsgesetz or FinmadiG). It was quickly placed on the agenda to ensure that legislation is in place before the full implementation of MiCAR on December 30.

FinmadiG not only concerns cryptocurrencies and MiCAR but also affects other EU laws, such as DORA and the funds transfer regulation. However, for MiCAR, it introduces the "Cryptocurrency Market Regulation Act" (KMAG), which replaces Germany's old cryptocurrency rules with MiCAR.