European Union: Announced European Commission investigation into DWS, Galaxy and Flow Traders joint venture

On 28 February 2024, the European Commission announced an investigation into the proposed joint venture creation by DWS Group GmbH and Co. KGaA of Germany (DWS), Galaxy Digital Labs LLC (Galaxy), and Flow Traders Holding LLC of the US (Flow Traders). The investigation, conducted under the EU Merger Regulation, aims to assess the potential impact of the joint venture on competition within the European Economic Area. The investigation examines the joint venture's primary activity of issuing Euro-denominated stablecoin to ensure compliance with competition regulations.