PANews reported on December 21 that according to Ledger Insights, the German Parliament passed the Financial Market Digitalization Act. The bill not only involves cryptocurrencies and MiCAR, but also affects other EU laws such as DORA and fund transfer regulations. Most of Europe's crypto asset market regulations (MiCAR) will take effect at the end of the year, but German companies are unable to obtain MiCAR cryptocurrency licenses issued by BaFin due to legislative delays. Foreign companies can operate freely in Germany and the EU after obtaining licenses elsewhere. Each country needs to designate a regulatory agency to issue licenses to crypto asset service providers, Germany is BaFin, but the relevant draft law has not been passed before.