ECB prepares guidelines for digital assets

The European Central Bank (ECB) is working on the criteria that it will apply when harmonizing the necessary requirements to authorize cryptocurrencies in the region.

Through a statement issued this week, the banking supervision division indicated that measures will be taken to begin the regulation of digital assets.

The ECB indicated that it would apply the criteria of the Capital Requirements Directive, in force since 2013, to assess license applications for activities and services related to cryptocurrencies.

The institution is expected to take into consideration the business models followed by the companies most related to the world of cryptocurrencies, as well as the internal governance and “suitability” evaluations that are applied in the granting of licenses.

“The greater the complexity or relevance of the cryptocurrency business, the higher the level of knowledge and experience in the field of cryptocurrencies should be”, the ECB said.

K. Tovar

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Source: Cointelegraph