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European banking supervisory authority publishes draft technical regulatory standards for dealing with crypto-asset exposures in accordance
The European Banking Supervisory Authority (EBA) published its draft of Regulatory Technical Standards (RTS) on Tuesday. It describes the requirements of how financial institutions have to treat crypto assets within the framework of the Capital requirements. With this step, the EBA pursues the goal of creating a uniform set of rules for dealing with crypto-assets in order to ...
European banking supervisory authority publishes draft technical regulatory standards for dealing with crypto-asset exposures in accordance
The European Banking Supervisory Authority (EBA) published its draft of Regulatory Technical Standards (RTS) on Tuesday. It describes the requirements of how financial institutions have to treat crypto assets within the framework of the Capital requirements.
With this step, the EBA pursues the goal of creating a uniform set of rules for dealing with crypto-assets in order to promote stability and transparency in the financial system. The regulations are intended to help identify the risks associated with crypto assets.A central aspect of the draft is the capital requirements placed at institutes that hold or act crypto assets. This is to ensure that these institutions have sufficient capital in order to cover potential losses from volatility and uncertainty of cryptocurrencies.
The EBA calls for the financial institutions to properly risk assessment of their crypto engagements and the implementation of suitable risk reduction strategies. In addition, it is expected that the institutes have extensive knowledge of the crypto markets in order to be able to make informed decisions about their commitments.
The publication of the draft is an important step in regulatory development in the field of digital assets in Europe and is in accordance with the efforts of the EU to create a safe and stable environment for innovations in the financial sector. Experts and industry representatives are asked to give feedback on the proposed standards to ensure that the regulations meet the real conditions and needs of the industry.
Overall, the draft of the EBA represents significant progress in the regulation of crypto-assets and could have far-reaching effects on the financial world in Europe.