The European Insurance and Occupational Pensions Authority (EIOPA), which oversees the insurance and occupational pensions sectors in the EU, recommends imposing stricter capital requirements for insurers with crypto holdings.
In a statement, the regulator says it advised the European Commission to introduce a 100% capital requirement for digital assets held by insurance companies.
The proposed rule will apply regardless of how insurance firms label their crypto holdings in the balance sheet or whether they have direct or indirect exposure to digital assets
Trending: ICE admits ‘administrative error’ in sending protected Maryland resident to Salvadoran prison
“The European Insurance and Occupational Pensions Authority published today its technical advice to the European Commission, recommending that a one-to-one capital requirement be applied consistently to all crypto holdings of EU (re)insurers.”
The regulator says capital requirements should capture the risks associated
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!