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EU Capital Necessities Banks Holding Crypto – Bitcoin Journal

European Union lawmakers have voted to impose strict capital necessities on banks that maintain cryptocurrencies, per a Reuters article.

In an effort to “forestall instability within the crypto world from spilling over into the monetary system,” Markus Ferber, financial spokesperson for the EU parliament’s European Folks’s Celebration, says, “banks will likely be required to carry a euro of personal capital for each euro they maintain in crypto.”

Lawmakers cite the chaos within the markets seen over the previous couple of months as additional proof that such regulation is important. With occasions just like the collapse of FTX, Celsius and others recent within the minds of customers, the passing of this legislation is anticipated to be half of a bigger set of laws geared toward bringing the EU into line with worldwide norms.

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