European Banks to Disclose Exposure to Crypto Assets – Finance Bitcoin News

Bitcoin.com
Bitcoin.com

29 Jun 2023 9:00 PM

Banks in the European Union will have to disclose their exposure to cryptocurrencies, EU institutions announced....

  • Banks in the European Union will be required to disclose their exposure to cryptocurrencies and other digital assets.
  • The obligation is part of a deal to implement globally agreed regulatory standards to improve the resilience of financial institutions.
  • The changes aim to make EU banks more resilient to economic shocks by implementing the Basel III global standards.
  • The European Commission will assess the overall state of the banking system in Europe's single market by the end of 2028.

The article presents the upcoming crypto disclosure requirements for EU banks as a measure to improve the resilience of financial institutions. The sentiment is neutral.

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You May Ask

What are the upcoming disclosure requirements for EU banks regarding cryptocurrencies?What is the purpose of implementing the Basel III global standards in EU banks?When will the European Commission assess the overall state of the banking system in Europe's single market?What other regulations have been introduced for the crypto industry in Europe?How might the disclosure requirements affect cryptocurrency users in Europe?

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