🇪🇺 The European Banking Authority (EBA), the EU's banking regulator, is finalizing draft rules for banks holding Bitcoin and Ethereum.
The draft rules require banks to assign a risk weight of 1.250% to "unprotected" cryptocurrencies such as Bitcoin and Ethereum.
The framework policy applies to banks in the European Union that hold crypto assets on their balance sheets.
Once approved, the bill will become a delegated regulation and will be sent to the European Parliament and the Council.
For example: a bank would have to block €12.5 million in capital for €1 million $BTC ...