The German parliament recently passed the "Digitalization of Financial Markets Act," bringing a new atmosphere to the cryptocurrency market. 🎉 This act not only covers cryptocurrencies and MiCAR but also affects other EU laws such as DORA and the Funds Transfer Regulation.

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

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