The German Financial Market Digitalization Act, formally the Gesetz über die Digitalisierung des Finanzmarktes and commonly abbreviated FinmadiG, is Germany’s national act for aligning financial-market law with the EU digital-finance package. As of July 2, 2026, the act is in force. It was published in the Federal Law Gazette as BGBl. 2024 I No. 438 on Dec. 27, 2024, with a main operative date of Dec. 30, 2024 and several specified phase-in dates.
For crypto markets, FinmadiG is most important because it creates and amends the German framework around the EU Markets in Crypto-Assets Regulation, the EU transfer-of-funds rules for crypto-asset transfers, and the Digital Operational Resilience Act. The Bundestag described the law as creating a new Kryptomärkteaufsichtsgesetz (KMAG) and changing a series of other German financial laws.
Key provisions of Germany’s Financial Market Digitalization Act
Crypto markets supervision under KMAG
FinmadiG establishes KMAG as Germany’s dedicated supervisory statute for crypto-asset markets under MiCA. The measure is designed to bundle national rules on the supervision of crypto-asset markets and to set out German authority, powers and sanctions where EU law requires member-state implementation. The Bundestag summary states that the act addresses BaFin responsibilities and powers as well as the sanctioning of breaches of Regulation (EU) 2023/1114.
MiCA implementation and market perimeter changes
The government draft explains that MiCA creates a framework for primary and secondary crypto-asset markets, including authorization requirements for certain public offers and crypto-asset services, disclosure duties, holder and customer protection, and measures against insider dealing and market manipulation in crypto-assets. The same draft states that German national rules for bank and financial services involving crypto-assets would be transferred into the new MiCA framework where required.
AML and transfer-of-funds alignment
FinmadiG also updates German anti-money-laundering law for Regulation (EU) 2023/1113. The Bundestag summary says the EU transfer-of-funds regime extends rules for combating financial crime, money laundering and terrorist financing to transfers of crypto-assets, requiring crypto-asset service providers to collect, transmit and make available information on originators and beneficiaries.
DORA operational resilience powers
The act updates German financial laws for DORA and the DORA amending directive. The Bundestag described the DORA-related content as covering IT security requirements for supervised firms, security-incident reporting, improved information exchange and simulated attacks on ICT systems, including penetration tests. The government draft notes that DORA applies from Jan. 17, 2025.
Jurisdictional impact in Germany
FinmadiG is a German federal act, but its practical role is closely tied to directly applicable EU regulations. It does not replace MiCA, Regulation (EU) 2023/1113 or DORA; rather, it supplies the German supervisory machinery, statutory amendments and sanctions needed for those regimes to operate in Germany. For CryptoSlate taxonomy purposes, the primary jurisdiction is Germany, the law type is Act, and the current non-U.S. status maps to In force.
Status and timeline
The German government submitted the draft to the Bundestag on Feb. 7, 2024, and the Bundestag held its first reading on Feb. 22, 2024 before referring the draft to committees, with the Finance Committee leading further review. The Bundestag adopted the act on Dec. 18, 2024; the Bundesrat consented on Dec. 20, 2024; and the act was promulgated in the Federal Law Gazette on Dec. 27, 2024.
The final commencement provision is staggered. Consolidated text of Article 23 states that Article 1 generally took effect on July 1, 2024, specified KMAG provisions took effect on Dec. 28, 2024 or Dec. 30, 2024, certain listed articles also took effect on July 1, 2024, and the remainder of the act took effect on Dec. 30, 2024. Editors should treat Dec. 30, 2024 as the main effective date while preserving the phase-in note for provisions with earlier or specific dates.