EU lawmakers to vote on tighter crypto, ESG rules for banks

Published by
Reuters UK

By Huw Jones LONDON (Reuters) – Banks would have to set aside a punitive amount of capital to cover holdings of cryptoassets under a draft law due to be voted on by lawmakers on Tuesday. The European Parliament’s economic affairs committee is due to vote on cross-party compromises, seen by Reuters, on a draft law which implements remaining elements of Basel III, a global accord which forces banks to hold more capital to cope with market shocks unaided by taxpayers. One amendment states that banks would have to apply a risk-weighting of 1,250% of capital to cryptoassets exposures, meaning enoug…

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