EWpG
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.
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.