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EUROPE · JURISDICTION PROFILE
Germany
Comprehensive
Travel Rule: In force
Regulator(s)BaFin ↗ · Deutsche Bundesbank ↗
FrameworkMiCA + national crypto-custody licence (KWG)
Travel RuleIn force
FATF statusNot listed
Overview
Germany was an early mover, introducing a crypto-custody business licence under the Banking Act (KWG) in 2020 and an Electronic Securities Act (eWpG) for tokenised securities. MiCA now provides the overarching CASP regime, supervised by BaFin.
Regulatory framework
BaFin authorises and supervises crypto-asset services under MiCA; existing crypto-custody licence holders transition into the MiCA regime.
Licensing & authorisation
Firms obtain MiCA CASP authorisation from BaFin; tokenised securities issuance falls under the eWpG.
AML & Travel Rule
The EU Travel Rule (TFR) applies; BaFin and the FIU supervise AML compliance.
Track developments
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