I'm not so sure about that. I haven't looked up the legal text, but to me it only sounds like operating some services like crypto exchanges requires a licence.

As a citizen I can interact with a Canadian bank that has no German licence, as long as I don't launder money. The Canadian bank just can't do business activities in Germany (advertisement, opening an office, etc).

Overall this seems like a bigpositive since it gives crypto currencies a more solid place in the German legal framework, taking it out of the niche