Insurance Benefits For European Cryptocurrency And Blockchain Ventures – [1/2] A representation of the cryptocurrency Bitcoin can be seen in this illustration taken on November 29, 2021 /Dado Ruvik/Illustration License Rights Purchased

London, January. 23 () — Banks would have to set aside a fine amount of capital to cover crypto asset holdings under a bill lawmakers will vote on Tuesday.

Insurance Benefits For European Cryptocurrency And Blockchain Ventures

Insurance Benefits For European Cryptocurrency And Blockchain Ventures

The European Parliament’s Economic Affairs Committee is set to vote on cross-party compromises on a bill to implement the remaining aspects of Basel III, a global accord that requires banks to hold more capital to withstand shocks. Taxpayer Assistance.

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The amendment establishes that banks will have to apply a risk weight of 1,250% of capital to exposure to crypto assets, which is enough to cover the total loss of its value.

The amendments introduce a definition of “shadow banking”, the broad sector of insurers, hedge funds and investment funds that make up half of the global financial system and are generally less regulated than banks.

The amendment requires the EU executive European Commission to publish a report by June 2023 analyzing the possibility of introducing prudential limits on bank exposures to shadow banks.

The changes require banks’ remuneration policies to be aligned with their transformation plans to address short-, medium- and long-term environmental, social, and governance (ESG) risks.

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The bill introduces a new “proper” regime for the appointment of bankers and the amendments state that the bank’s governing body should have targets.

They should be “sufficiently diverse in terms of age, gender, geographic origin and education,” according to a report by Jonas Fernandez, a member of the committee leading negotiations on the bill in parliament.

The changes generally go further than those made by EU countries, which they agreed among themselves in December and generally focus on temporary exemptions from some requirements to give banks more time to adapt, despite opposition from the European Central Bank.

Insurance Benefits For European Cryptocurrency And Blockchain Ventures

After Tuesday’s vote, lawmakers and EU countries will reach a final deal that will come into force in 2025. Transforming Pipelines into Digital Platforms: An Illustrative Case Study of Transforming a Traditional Pipeline Business Model in a Certification Industry on a Digital Platform

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Tara Renduchintala Silit Google Scholar 1 by Tara Renduchintala, Haneen Alfouri Haneen Alfouri Silit Preprints Scholar 3 and Raj Jain Raj Jain Silit Google Scholar 2

Received: August 18, 2022 / Revised: September 23, 2022 / Accepted: September 25, 2022 / Published: October 13, 2022


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