ChainCatcher news, according to Ledger Insights, the German tokenization company Cashlink Technologies has obtained a cryptocurrency custody license issued by the country's regulatory authority BaFin. The company already holds a cryptocurrency securities registrar license.According to German law, when issuing securities on DLT, a registrar can be used instead of a central securities depository (CSD). With the new license, Cashlink can now manage the private keys associated with the tokenized securities it participates in issuing and registering.

ChainCatcher news, according to Ledger Insights, the German Parliament (Bundestag) passed the Financial Market Digitalization Act (Finanzmarktdigitalisierungsgesetz of FinmadiG) this week. The parliament responded to industry demands to ensure legislation is in place before MiCAR fully comes into effect on December 30.FinmadiG not only pertains to cryptocurrencies and MiCAR but also affects 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.Technically, MiCAR is a regulation, so local laws are not required. However, legislation must designate BaFin as the regulatory authority; otherwise, BaFin cannot issue licenses. This will allow EU companies with cryptocurrency licenses from other countries to operate in Germany, but German companies will not be able to operate in the EU.Additionally, MiCAR allows companies holding existing licenses to continue operating for up to 18 months, with the transition period determined by each jurisdiction. The new German legislation specifies one year.

ChainCatcher news, according to Ledger Insights, Germany's DekaBank has obtained a cryptocurrency custody license from the country's regulatory authority BaFin and the European Central Bank (ECB). Commerzbank was the first German bank to receive a license last year, while other major banks, including DZ Bank, have yet to obtain one.BaFin has issued an additional 11 cryptocurrency custody licenses, primarily targeting cryptocurrency companies. One of these is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.The difference between DekaBank and Commerzbank in relation to cryptocurrency companies is that the former is licensed under the Banking Act (KWG). This is the second new license DekaBank has obtained this year. In July, the company received a license as a crypto securities registrar for issuing digital securities based on DLT in Germany. These crypto securities can be issued without the need for a central securities depository (CSD).

ChainCatcher news, according to CoinDesk, the tokenized asset exchange 21X running on Polygon has received approval from the German financial regulator BaFin to go live, planning to launch a tokenized financial instruments exchange at its headquarters in the first quarter of 2025. The exchange plans to trade tokenized equities, debt securities, funds, and real-world assets (RWA), such as real estate or artworks that qualify as financial instruments.It is reported that, in addition to BaFin, the Deutsche Bundesbank, the European Securities and Markets Authority (ESMA), and the European Central Bank (ECB) were also involved in the approval of 21X.

ChainCatcher news, Crypto Finance announced that the German regulator BaFin has granted four licenses to its German subsidiary. The Swiss Financial Market Supervisory Authority (FINMA) has been overseeing this institution-focused Swiss company, whose parent company is Deutsche Börse, which was acquired in 2021. Deutsche Börse plans to launch the institutional cryptocurrency exchange Deutsche Börse Digital Exchange (DBDX) this year.

ChainCatcher news, according to CoinDesk, Germany's financial regulator BaFin has requested that Futurum Bank, a subsidiary of the ADE Group, address some deficiencies in its internal anti-money laundering measures. The regulator found "serious deficiencies" in the subsidiary's internal security measures, due diligence obligations, and suspicious activity reporting systems.The ADE Group stated on Wednesday that it is taking steps to address these deficiencies. "There are currently no indications that there are violations of money laundering and terrorist financing laws within the group."

ChainCatcher news, according to CoinDesk, digital asset custodian BitGo has obtained a cryptocurrency custody license granted by the Federal Financial Supervisory Authority (BaFin) of Germany.BitGo received approval for the New York Trust Charter from the New York Department of Financial Services (NYDFS) in 2021 and has been storing crypto assets for its clients under BaFin's supervision since 2019 as part of a transitional regime.

ChainCatcher news, according to sources from Finance Forward, the German financial regulator BaFin has decided not to grant a custody license to the cryptocurrency exchange Binance. It is still unclear whether this is a formal cancellation or if the regulators have expressed their intentions during ongoing negotiations.According to previous reports, on June 26, Binance withdrew its application for an Austrian license under pressure from regulators. Additionally, Binance had previously abandoned its registration with the Cyprus Securities Regulator, and after a failed attempt to register, decided to exit the Netherlands, and was also ordered to cease operations in Belgium. (source link)

ChainCatcher news, the digital division Blocknox of the Stuttgart Stock Exchange (Boerse Stuttgart) has received the final license for cryptocurrency custody from the country's financial regulator BaFin. This license will allow Boerse Stuttgart Digital to provide trading and trust custody services for institutional investors.Boerse Stuttgart is the sixth largest stock exchange in Europe, and the company launched a cryptocurrency trading app in 2018, which exceeded $1 billion in trading volume in 2020. (CoinDesk)

ChainCatcher news, cryptocurrency custodian Finoa has received three license approvals from the Federal Financial Supervisory Authority (BaFin) of Germany, including custody license approval, broker-dealer license approval, and proprietary trading license approval.In addition, Finoa has completed a strategic venture capital investment led by new investor Middlegame Ventures, with existing investors including Balderton Capital, Coparion, Venture Stars, and Signature Ventures. Finoa has not disclosed the specific amount of financing.It is reported that Finoa completed a $22 million Series A financing in 2021, led by Balderton Capital. (CoinDesk)