EU reaches political agreement on crypto capital rules

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The European Union has reached a political agreement on new capital adequacy rules for banks’ digital assets.

The European Union has reached a political agreement on new capital adequacy rules for banks’ digital assets.

The news was announced by the Economic and Monetary Affairs Committee of the European Parliament. He said negotiators from parliament, national governments and the European Commission (EC) had reached agreement on changes to the capital requirements regulation and directive.

The negotiations, chaired by Swedish Finance Minister Elisabeth Svantesson, focused on concerns about unsecured crypto assets entering the financial system and the need for stricter capital adequacy rules.

According to Svantesson, the new rules will strengthen the soundness and resilience of banks operating in the Union.

The agreement, which also takes into account changes to the risk assessments of corporate loans and bank mortgages, includes the inclusion of a transitional prudential regime for crypto-assets, but there are few details on how this scheme works.

The regulation of digital and crypto assets is currently a pressing issue for supervisors and legislators around the world.

In the United States, the Securities and Exchanges Commission is locked in a number of legal battles with crypto exchanges over whether crypto assets should be defined as securities.

Meanwhile, the Basel Committee on Banking Supervision at the Bank for International Settlements is finalizing its own capital adequacy rules for crypto.

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