TOKENIZATION POLICY
The Vanderbilt Terminal for Digital Asset Policy & Regulation
INDEPENDENT INTELLIGENCE FOR TOKENIZATION POLICY, LEGISLATION & POLITICAL ECONOMY
GENIUS Act: Signed Law ▲ Jul 18 2025| MiCA Status: Live ▲ Dec 2024| CLARITY Act: Senate Pending ▲ Jul 2025| Crypto Lobbying 2024: $202M PAC ▲ Fairshake| OECD CARF Countries: 75+ ▲ +12| CBDC Projects: 130+ Active ▲ Atlantic Council| FATF Travel Rule: 73% Compliant ▲ Jun 2025| Pro-Crypto Congress: 300+ Members ▲ +91| GENIUS Act: Signed Law ▲ Jul 18 2025| MiCA Status: Live ▲ Dec 2024| CLARITY Act: Senate Pending ▲ Jul 2025| Crypto Lobbying 2024: $202M PAC ▲ Fairshake| OECD CARF Countries: 75+ ▲ +12| CBDC Projects: 130+ Active ▲ Atlantic Council| FATF Travel Rule: 73% Compliant ▲ Jun 2025| Pro-Crypto Congress: 300+ Members ▲ +91|

BaFin

BaFin (Federal Financial Supervisory Authority — Germany)

BaFin's dual role under eWpG electronic securities law and MiCA as Germany's national competent authority, with context from major tokenized bond issuances and the Wirecard reforms.

Donovan Vanderbilt · February 24, 2026

Germany's Electronic Securities Act: Digitalising the Bund

Germany's Electronic Securities Act (eWpG), in force since 2021, allows securities to be issued as electronic records — a significant legal modernisation that enables tokenized securities without requiring traditional paper certificates.

Donovan Vanderbilt · February 24, 2026 · 7 min read
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