EU lawmakers vote for more restrictive capital requirements on banks holding crypto By Cointelegraph

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EU lawmakers vote for more restrictive capital requirements on banks holding crypto

Cryptocurrency Jan 24, 2023 03:00PM ET

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EU lawmakers vote for more restrictive capital requirements on banks holding crypto

The Economic and Monetary Affairs Committee of the European Parliament has voted for measures requiring banks holding cryptocurrencies to set aside a punitive amount of capital.

In a Jan. 24 notice, the European Parliament announced the committee had voted overwhelmingly in favor of amendments to its Capital Requirements Regulation and Capital Requirements Directive applying to banks holding crypto. According to a draft law, banks would be required to hold a “risk-weighted exposure amount” of up to 1,250% of capital based on exposure to crypto.

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