The German Act on the Digitisation of the Financial Market (Finanzmarktdigitalisierungsgesetz — FinmadiG) was published in the Federal Law Gazette on 27.12.2024. Under the supervision of BaFin, it creates a comprehensive legal framework for crypto assets and digital financial services in Germany and transposes important EU regulations (DORA and MiCA) into national law.
One of the main objectives of the FinmadiG is to increase digital resilience and counteract new money laundering risks. This is intended to strengthen confidence in new digital financial infrastructures and promote the integrity and stability of the financial system.
The FinmadiG is particularly relevant for financial services institutions, credit institutions, capital management companies and the new providers of crypto asset services. However, securities institutions, payment institutions and e-money institutions must also take the new regulations into account.
Comments