The German parliament passed the Financial Market Digitalization Act this week and will complete the legislation by December 30

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TECHUBNEWS
13 hours ago
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According to Techub News, the German parliament this week passed the Financial Market Digitalization Act (Finanzmarktdigitalisierungsgesetz of FinmadiG). The parliament responded to industry demands to ensure legislation is in place before the full implementation of MiCAR on December 30.

The Financial Market Digitalization Act not only covers cryptocurrencies and MiCAR, but also impacts other EU laws, such as DORA and the Funds Transfer Regulation. For MiCAR, it introduces the Cryptocurrency Market Regulation Act (KMAG), which replaces Germany's old cryptocurrency rules with MiCAR.

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