MiCA-authorised crypto exchanges in Germany

What is MiCA in Germany?

Germany's BaFin runs a strict, banking-style authorisation model. Trade Republic, which already held a German banking licence, was authorised in April 2025. BaFin previously refused Binance's German licence application in 2023, leading Binance to withdraw from the German market. The Markets in Crypto-Assets Regulation (MiCA), formally Regulation (EU) 2023/1114, came into force across the EU in June 2023 and has been progressively applied since then. From 1 July 2026, providers of crypto-asset services to residents of Germany must hold a MiCA authorisation from Federal Financial Supervisory Authority (BaFin) or another EEA national competent authority, or operate under the passporting regime from a CASP authorised elsewhere in the EEA.

How does the MiCA passporting regime work for Germany residents?

Any CASP authorised by an EEA national competent authority can offer services to residents of Germany without needing a separate Germany authorisation. The home-state regulator (where the entity holds its primary authorisation) remains primarily responsible for ongoing supervision. The host-state regulator (Federal Financial Supervisory Authority (BaFin) in the case of Germany) receives a passporting notification and can take action under MiCA Title V if domestic consumer protection issues arise.

What if my exchange is not authorised under MiCA?

From 1 July 2026, providers offering crypto-asset services to residents of Germany without MiCA authorisation are in breach of Regulation (EU) 2023/1114. Existing customers typically retain the ability to withdraw assets, but new deposits, trading, or onboarding may stop. Each exchange communicates its own transition plan ahead of that date.