European Union asks banks to limit their exposure to Bitcoin
El organismo europeo solicitó a los bancos aplicar este tipo de restricciones para los activos digitales
The European Union (EU) sent out a recommendation for banks to limit their exposure to Bitcoin and other cryptocurrencies.
This measure is part of the EU’s efforts to address the risks associated with cryptocurrencies and protect investors. According to the recommendation, banks should limit their exposure to cryptocurrencies to a maximum percentage of their capital.
The agency noted that the value of Bitcoin is extremely volatile and that its price can change drastically in a matter of hours. Furthermore, the lack of regulation in the cryptocurrency market increases the risks of fraud and money laundering. The EU recommendation seeks to protect investors and ensure financial stability in the region.
However, some cryptocurrency advocates criticized the EU recommendation, arguing that limiting exposure to cryptocurrencies may limit growth and innovation in the industry. According to them, the EU should focus on establishing clear and effective regulation instead of limiting banks exposure to Bitcoin.
Despite the criticism, the EU recommendation adds to growing pressure from regulators around the world to address the risks associated with cryptocurrencies. In recent months, several countries have announced measures to regulate cryptocurrencies, including a ban on their use in financial transactions.
K. Tovar
Source: Finbold
(Reference image source: Markus Spiske, Unsplash)
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