EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto
European Union lawmakers have voted to impose strict capital requirements on banks that hold cryptocurrencies, per a Reuters article. In an effort to “prevent instability in the crypto world from spilling over into the financial system,” Markus Ferber, economic spokesperson for the EU parliament’s European People’s Party, says, “banks will be required to hold a euro of own capital for every euro they hold in crypto.”
