Germany plans to include cryptocurrency accounts in the account inquiry program, and the draft allows for freezing for five working days

According to CryptoTicker, a draft ministerial document from the German Federal Ministry of Finance on October 28 shows that the German account inquiry system will cover cryptocurrency accounts in the future. According to the draft, cryptocurrency exchanges and other cryptocurrency asset service providers must input customer account master data into the account inquiry procedure specified in Section 24c of the German Banking Act. Authorities can use this to check where users have opened accounts, the time of account opening, and whether the accounts still exist, but not including balances and individual transactions.

In addition, the Financial Intelligence Unit (FIU) can freeze cryptocurrency asset accounts for up to five working days when there is suspicion of money laundering, and objections cannot lift the freeze. The draft is still being coordinated among government departments and has not yet come into effect; the new anti-money laundering law is scheduled to replace the current law on July 10, 2027.