The German government is pushing for more welcoming regulations for startups working with financial innovation in the country, according to the newly drafted legislation of the “Future Finance Act” introduced by the finance ministry on April 5.

Key goals of the legislation include capital markets digitalization through the issuance of electronic securities on a blockchain and improved portability of crypto assets. According to a translated version of the draft bill, Germany’s “capital market should become more modern and efficient in order to mobilize more private capital for future investments.”

Among the government’s targets is to create a favorable environment for startups and investors in the country. The legislation reduces the minimum market capital for initial public offerings (IPOs) from 1.25 million euros ($1.37 million) to 1 million euros ($1.1 million) and facilitates investments by institutional players in startups, small businesses, and special purpose acquisition companies (SPACs).

According to local media reports, the new rules would apply to businesses employing up to 500 people and with revenues below 100 million euros ($109 million).