The EU has reached a political agreement on new banking capital legislation, which may impose strict restrictions on cryptocurrency holdings

ChainCatcher news, according to CoinDesk, the European Union (EU) reached a political agreement on new banking capital legislation on Tuesday, with lawmakers previously supporting "prohibitive" capital requirements to exclude unsupported crypto assets from the banking system. The agreement was announced by the European Parliament's Economic and Monetary Affairs Committee on Twitter, following a meeting of representatives from the European Parliament, national governments, and the European Commission, which first proposed the new rules back in 2021.

This political agreement will also comprehensively and controversially reform the way banks assess the risks of corporate and housing loans, and it must now be voted on by EU Council member states and lawmakers to become legislation, a process that could take months in practice. (Source link)