Crypto NewsEconomyEU Commission Wants to Ease Banks' Access to Stablecoins

EU Commission Wants to Ease Banks’ Access to Stablecoins

The European Union follows a different policy for stablecoins while restricting the relationship of traditional finance arms with cryptocurrencies.

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European Union components, which have focused on the regulation of digital assets in recent months, have been working on the ties of cryptocurrencies with traditional finance.

According to the latest information leaked to the financial press, the EU Commission does not want banks to be involved with cryptocurrencies, but is warm to stablecoins and tokenized assets.

Allegedly, officials brought to the table the softening of the “one-to-one” measure, which was previously required of banks for euro-based stablecoins. The EU, which made the first regulation in January, required banks to hold 1 euro for 1 unit of stablecoin.

The aforementioned counter-asset rule was applied more harshly for cryptocurrencies whose value is not stable. The EU Commission has accepted the obligation for the financial sector to hold “1.25 units worth of assets for 1 unit of cryptocurrencies”.

However, according to media reports, a study is being conducted to stretch this rule. Sources claim that while the EU remains strict on cryptocurrencies, authorities are looking to lower the reserve requirement ratio for fiat-backed stablecoins.

Unofficial documents have prompted comments that banks will increase the risk ratio for stablecoin reserve requirement up to 250%.

Buradaki Yorumlardan Bildirim Al

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