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E-Money Services within the Meaning of PSD3 – What Exactly Will the New Activity Include?
The new PSD3 aims to transfer the regulation of the e-money business to the supervisory regime for payment services. However, the new term “e-money services” poses some difficulties of interpretation. Which specific activities will it cover in future?
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New Implementation Guidance from BaFin on the Simplified ICT Risk Management Framework
DORA implementation: BaFin specifies requirements for simplified ICT risk management framework: BaFin provides financial companies with an overview of documentation, security measures, and processes for the simplified ICT framework, but emphasizes that the content must be tailored to each individual case in accordance with the principle of proportionality.
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Qualified Crypto Custody – Are NFTs Regulated as Cryptographic Instruments in Germany?
Since the beginning of the year, crypto custody has been regulated by MiCAR, and the German regulation of crypto custodians according to the KWG has been replaced. However, a small sub-area remains at the national level and in individual cases this can affect NFT.
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DORA Is Live – When Do the First Reports Have to Be Made to BaFin?
Die DORA gilt seit dem 17. Januar 2025 und schon bis zum 11. April 2025 müssen Finanzunternehmen ihre Informationsregister gemäß DORA-Vorgaben bei der BaFin einreichen. Finanzunternehmen sollten sich frühzeitig vorbereiten und sicherstellen, dass die Register formgerecht eingereicht werden.
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Units of Account and MiCAR – Can Crypto Tokens Still be Units of Account?
How are wrapped tokens and token bridges regulated under MiCAR? What obligations apply to providers and issuers and are there possibilities to realize a token bridge outside the scope of MiCAR?
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Incorrect Crypto Whitepaper According to MiCAR – What are the Consequences?
MiCAR will to full extent enter into effect at the end of this year. Then, also the provisions on crypto asset whitepapers of MiCAR will become applicable. But what consequences will then have the publication of an incorrect whitepaper?
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Lending Business and Subordinated Loans – What to Consider When Issuing Subordinated Loans on a Regular Basis
Subordinated loans granted by companies to other companies do not generally fall under the definition of lending business. However, there are exceptions to this rule. What are these?
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Public Warnings by BaFin – How Affected Companies Can React
If BaFin publishes public warnings about companies, this can have a negative impact on the companies. How can affected companies defend themselves in such cases?
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The BaFin License According to MiCAR – Which Application Variants Are Available for Crypto Asset Service Providers?
MiCAR will set different requirements for crypto asset service providers when applying for a license. Companies that are already supervised will benefit from simplified procedures.
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BaFin Publishes Guidance on Register Management for Crypto Securities
Bafin publishes details of its administrative practice in relation to crypto securities and the management of a crypto securities register. Which tokens does the authority classify as crypto securities?
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From KWG to MiCAR – How Does the Legislator Intend to Shape the Regime Change for Crypto Asset Service Providers?
The Federal Ministry of Finance has drafted a legislation to regulate the transition of crypto asset service providers from national KWG regulation to the MiCAR regime. What should regulated German crypto asset service providers be prepared for?
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The MiCAR Whitepaper (Part VII) – How Does the German Legislator Intend to Implement the Draft Financial Market Digitization Act?
According to the draft legislation on the Financial Market Digitization Act, the Crypto Markets Supervision Act is to be an independent accompanying law to MiCAR. What regulations does it contain in relation to MiCAR whitepapers?
