In November 2023, the German Parliament adopted the Act on Financing of the Future (Zukunftsfinanzierungsgesetz, “ZuFinG”), which will allow German stock corporations to issue stock “on chain” (crypto-shares). This is achieved by amending the existing German Act on Electronic Securities (“eWpG”) and the stock corporation law. However, a few requirements will need to be fulfilled. In particular, a change from a traditional paper-based issuance to crypto shares will require that all existing shareholders agree, which…