New Rules for European Banks and Crypto….
The lawmakers in the EU have backed new legislation that will implement monitoring of bank’s dealings and holding in Crypto.
The draft legislation dictates that for every Euro held in Crypto the bank must hold an equivalent amount in their own fiat money.
There are two ways this can be viewed. Some media outlets are of the opinion that it is a much needed tightening on the digital assets industry, however CleverRobot is of the opinion it is simply one of many oncoming mini steps towards proper regulation for the Crypto industry and the fact that this move does align with global sentiment amongst regulators, which further increases the likelihood of a global standard when it comes to Crypto regulation, and that will likely lead to even further adoption in the years to come.
CleverRobot newsdesk 27th January 2023
All opinions are just that. Do not invest anything you cannot afford to lose within this space, do your research and keep learning. This is not financial advice.