Germany's account lookup to cover crypto accounts: draft allows five-working-day freezes

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Germany's account lookup system is set to cover crypto accounts: exchanges would report account ID, holder and opening dates, but no balances. At the same time, the FIU would be allowed to freeze a crypto account for up to five working days, and an objection would not lift the freeze.Account lookup: authorities are set to find crypto accounts in the register too.Add as a preferred source on GoogleFollow on Google NewsGermany's account lookup system is set to cover crypto accounts in future. Under a ministerial draft from the Federal Ministry of Finance (BMF) dated October 28, 2026, crypto exchanges and other crypto-asset service providers would have to feed the master data of their customer accounts into the account lookup procedure under Section 24c of the German Banking Act (KWG). Authorities would then see which platform you hold an account with, since when, and whether it still exists. Balances and individual transactions are not part of this data. In addition, the Financial...