The European banking supervision is concerned to find personnel to monitor crypto

An important regulatory authority that is commissioned with the monitoring of Europe's pioneering offer to regulate cryptocurrencies sees their ability to hire specialized personnel as a "great concern" and emphasizes concern about the ability of the authorities to monitor the markets for digital assets.

José Manuel Campa, Chairman of the European Banking Supervisory Authority, said that his organization is also concerned about planning logistics for its new powers, since it will not know which digital coins it should supervise until shortly before 2025, when Europe is new.

Campa said in an interview that the binding of talents was already a "big concern". . . Especially in the areas of technology, everything related to crypto, digitization [or artificial intelligence]. This is very popular throughout society. "

The EBA based in Paris, which was founded after the financial crisis to ensure that Europe's banks have enough capital to survive future storms, has the task of monitoring "significant" tokens that are widespread as means of payment, and popular tokens that are associated with traditional connected assets according to the markets proposed by Europe in Cryptoasset's regulation (Mica).

The comments of the regulatory authority underline the difficulties that other authorities are faced with, who try to get the fast -moving sector for digital assets under control.

banks, fintechs and consulting companies offer lush packages to convert experts whose skills are most in demand. The record inflation in the entire euro zone has also led to higher wage claims, since the employees are looking for packages to compensate for the increase in living costs.

The salaries of the EBA agree with those of the European Commission, and Campa said that there was "not in the area of ​​possible discussions" between the EBA and the Commission to give the regulatory authority a free hand when paying.

Campa said that the EBA was also concerned that, in contrast to banking supervision, the group of institutes that they have to supervise could not be defined and could be changed at the last minute. "So I don't know exactly what I will be faced with in two years," he said.

He said that the "very dynamic" nature of the crypto sector means that the regulation "of course tends to walk behind the curve". Campa admitted that Krypto may have "changed and converted into other uses in three years that I cannot predict".

Nevertheless, Campa said that he was not concerned about the risk of reputation if the EBA was wrong in a sector, which is called "Wilder West" of the financial industry, the EBA in a sector, which is called "Wilder West" of the financial industry.

"My concern is more to ensure that the risk we identified.

The EBA boss confidently commented on the risks for the traditional financial sector through the clouding of economic outlook in Europe and emphasized that he did not see a financial crisis "in the foreseeable future" and that European banks should be able to maintain lending to the economy.

"We are not in a macro [Economic] in an environment that indicates a recession, we are in a macrored field that indicates less growth.

The EBA will try to get the risk of rising interest rates under the stress tests next year, a normally annual exercise that should ensure that the banks have enough bags to survive crises with which they may be confronted. The European Committee on System Risks, which monitors the risks to the European financial system, is “at a very early stage” to determine the macroeconomic scenarios, on the basis of which the banks are tested.