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Podcast: Legal updates | Simmons & Simmons
Episode: Financial Market Digitalisation Act
Description: The Financial Market Digitalization Act ("FinmadiG") was passed on 18 December 2024 by the German Bundestag, despite political adversities, just in time before the application date of "MiCAR", the Regulation (EU) 2023/1114 (Markets in Crypto-Assets Regulation) on 30 December 2024, and “DORA”, the Regulation (EU) 2022/2554 (Digital Operational Resilience Act) on 17 January 2025. The FinmadiG is particularly important as it adjusts the German regulatory landscape to the two main European digitalization regulations affecting the financial sector, MiCAR and DORA. Market participants already feared that after the collapse of the German government, this key piece of legislation for the digital finance market in Germany would be postponed unti...