Boerse Stuttgart Digital Secures EU-Wide Crypto License, Pioneering in Germany

Boerse Stuttgart Digital, a subsidiary of the Stuttgart Stock Exchange, has become the first company in Germany to receive a Crypto Asset Service Provider (CASP) license from the German Federal Financial Supervisory Authority (BaFin). This license, granted under the Crypto Asset Market Regulation (MiCA), will be effective at the end of 2024, allowing the company to operate across the European Union. The CEO of the Stuttgart Stock Exchange Group, Matthias Voelkel, stated that this will enable the expansion of digital services for European financial institutions and support the international growth of their digital business. Despite other jurisdictions issuing MiCA licenses, Germany faced delays due to the collapse of its coalition government, which affected the passage of relevant legislation. However, the German Bundestag recently passed a bill to designate BaFin as the local regulator.