Title: DE / eWpG (Electronic Securities Act) · Jurisdiction · EthSystems

URL Source: https://original.es-internal.pages.dev/jurisdictions/de-ewpg/

Markdown Content:
---
description: Germany's eWpG gives electronic securities, including crypto-securities recorded on a DLT register, the same legal standing as paper certificates. Operating a crypto-securities register and providing crypto custody are BaFin-regulated activities. The regime is enabling and one of the clearer EU paths to native on-chain securities, though it overlaps with MiCA/MiFID classification.
title: DE / eWpG (Electronic Securities Act) · Jurisdiction · EthSystems
image: https://original.es-internal.pages.dev/og.png
---

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#### Key regulations

* eWpG (Gesetz über elektronische Wertpapiere, 2021)
* BaFin licensing for crypto-securities registrars & custody

#### Entities

* issuers
* custodians
* registrars
* trading venues

#### Activities

* on-chain issuance
* registry operations
* custody
* secondary trading

> Developer orientation. Not legal advice.

## What to Watch

* Overlap between eWpG, MiCA, and MiFID classification (and prospectus triggers).
* Registrar liability for register accuracy and availability.
* Insolvency segregation / bankruptcy-remoteness of custodied assets.

## See also

* [Jurisdiction: EU / MiCA](/jurisdictions/eu-MiCA/)
* [Crypto-Registry Bridge (eWpG/EAS) pattern](/patterns/pattern-crypto-registry-bridge-ewpg-eas/)

Also in Europe

* [EU / MiCA](/jurisdictions/eu-mica/)
* [EU Data Protection & PETs](/jurisdictions/eu-data-protection/)

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