Posts – Sound Knowledge for Sound Decisions

The German law firm Kronsteyn drafts and reviews the MiCAR white paper for your utility token offering, submits it to BaFin on your behalf, and provides legal support throughout the entire duration of the public offering. Legal advice provided by a qualified German lawyer.

MiCAR requires crypto-asset issuers to submit a whitepaper to BaFin before any public offering. From 23 December 2025, new format requirements (XHTML/XBRL) apply. The German law firm Kronsteyn drafts and reviews whitepapers. Attorney/Lawyer.

EMIR 3 requires certain Market Participants to maintain an active EU CCP account. Overview of obligations, thresholds, reporting and implementation.

Key Changes for SIs: From a revised SI definition to the removal of pre-trade transparency for non-equity instruments and adjustments to the quoting obligation.

Learn how EMIR 3.0 and the MiFIR review are changing the rules for Post-Trade Risk Reduction Services (PTRR). An overview of new requirements, exemptions, and opportunities for market participants.

EMIR 3 introduces new rules for intra-group derivative transactions: changes to clearing exemptions, reporting obligations and risk mitigation. Overview and legal assessment. KRONSTEYN Germany.

German Real Estate Transfer Tax (GrESt): latest case law on when internal fund/SPV reorganisations stay tax-neutral where ultimate ownership is unchanged.

Overview of the requirements for a German banking licence under the KWG: procedures before BaFin and the ECB, distinction from WpIG/ZAG/MiCAR and key strategic considerations for foreign institutions.

Legal requirements for German hedge funds: establishment, structuring, BaFin authorisation and ongoing management.

Since 20 January 2025, 105 additional oil tankers of the so-called 'shadow fleet' have been listed under Regulation (EU) 2025/1494. Listed vessels are banned from EU ports and maritime services. Shipowners may challenge the listing before the General Court of the EU if the legal criteria under Article 3s(2) of Regulation (EU) No 833/2014 are not met. The deadline for filing an action is 13 October 2025.

When a sanctioned person brings an action before the General Court of the EU challenging a listing decision by the Council, a specific time limit must be observed. Legal advice from a qualified law firm is essential in delisting procedures.

When a sanctioned person dies, heirs face barriers accessing frozen assets. Learn how to request EU delisting or take legal action if the Council refuses.

The 17th sanctions package targets, among others, the Russian 'shadow fleet'. It includes ships/vessels that transport crude oil or petroleum products that originate in Russia or are exported from Russia while practicing irregular and high-risk shipping practices as set out in the International Maritime Organisation. Legal remedies for a removal from the sanctions list (delisting) are available. Contact a German/European attorney/lawyer.

The EU has implemented specific secondary sanctions, thereby extending its existing sanctions regime.

BGH rules on frozen securities: A German depository bank unlawfully restricted an Iranian bank's ownership rights.

A state liability claim due to a decision by a German stock exchange sanctions committee must be asserted against the federal state.

The EU Short Selling Regulation also applies to trading firms and investment funds located outside the EU/EEA (third-country firms).

Since 5 February 2025, the REMIT regulations (registration, insider trading, etc.) have also applied to wholesale hydrogen energy products.

Investment fund managers domiciled in the United Kingdom (UK) are generally permitted to market in Germany investment funds they manage.

Investment fund managers domiciled outside Germany must comply with specific regulations to market their investment fund in Germany.