Germany — crypto regulation

Status: legal · Last reviewed 2026-11-05

MiCA member state (BaFin as NCA). FinmadiG/KMAG implemented MiCA domestically. Major banks (DZ Bank, Deutsche Bank) entering crypto under MiCA licences. Active enforcement against unlicensed ATMs and stablecoin issuers.

Legislation

• DAC 8 Implementation Act — Crypto Tax Transparency Act (Kryptowerte-Steuertransparenzgesetz, KStTG) (2025)
• Draft law ending the one-year tax-free holding period for crypto (§ 23 EStG) (2026)
• FinmadiG — Financial Market Digitisation Act (2024)
• KMAG — Crypto Markets Supervision Act (2024)
• KWG Section 1(1a) No. 6 — Crypto Custody Business (2020)
• eWpG — Electronic Securities Act (2021)
• BaFin Guidance on Crypto-Asset Services under MiCAR (2025)