Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

EU Lawmakers Back More Stringent Rules for Banks Holding Crypto

Posted on januari 25, 2023 by Blockchain News

Lawmakers in the European Union (EU) voted on and approved on Tuesday a draft law that would see banks in the bloc holding cryptocurrencies follow more stringent measures.


EU Lawmakers Back Draft Law

EU lawmakers on Tuesday voted to back a draft law to implement the final stage of post-financial global bank capital rules. According to reports by Reuters, the draft law added “prohibitive” requirements to cover risks from crypto assets. The so-called “prohibitive” measures would require banks to hold a punitive amount of capital to cover more than 100% of any loss from cryptocurrency companies and is in line with Basel III capital rules and is set to take effect from January 2025.

Previous reports indicated that one of the amendments up for a vote would require banks to set a risk-weighting of 1,250% to all capital with crypto exposure, meaning that banks could cover 100% of any potential losses.

The approval of this draft law is just an interim measure pending further and more comprehensive EU legislation in line with recommendations from global banking regulators. Markus Ferber, a member of the European Parliament, said that banks would have to hold a euro of their capital for every euro they hold in crypto assets. The regulator argues that since cryptocurrency is such a “high-risk investment,” it has become necessary to implement such a measure. Ferber added:


Such prohibitive capital requirements will help prevent instability in the crypto world from spilling over into the financial system.


The United States, Britain, and other countries are reportedly taking similar steps against the backdrop of integrating such a “high-risk investment” into the financial sector.

The Association for Financial Market in Europe (AFME), an industry body, however, noted that the draft law, as it stands, contains no definition of “crypto assets” and may well end up being applied to tokenized securities also. Reuters reports that EU states have already approved their versions of the draft law, negotiations between member states are set to take place, and a few amendments are expected.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


Source: CryptoDaily.co.uk
Original Post: EU Lawmakers Back More Stringent Rules for Banks Holding Crypto

Ledger Nano X - The secure hardware wallet

Recente berichten

  • Silvergate schorst uitbetaling dividenden om liquide balans te behouden
  • SafeMoon (SFM) Price Prediction 2025-2030: Short-term investors gain with SFM
  • 200% Ethereum (ETH) Explosion Is Entirely Realistic, According to Coin Bureau – Here’s When
  • Former FTX Boss Sam Bankman-Fried Using Privacy Messaging App Signal
  • Bitcoin ‘so bullish’ at $23K as analyst reveals new BTC price metrics

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme