The European Banking Authority (EBA) has taken action to examine the risks that cryptocurrency companies may pose and to deepen regulations in this context.
Applying stress tests to European Union banks EBAbanks with cryptocurrencies and other financial instruments rolled up its sleeves to detail the regulations regarding the risk thresholds.
Financial Times According to the report presented by , various investment instruments such as cryptocurrencies with which banks interact may create unexpected effects in the financial system Expressing that, the EBA front argued that close monitoring should be continued without giving up the ropes.
In the report, the EBA, including organizations related to the cryptocurrency industry, in non-bank financial institutions (NBFIs) potential troubles to predict how it will affect lenders. will take additional steps.
Making a statement on the subject, EBA President José Manuel CampaHe explained that these potential scenarios deep within the financial system should be investigated and studied in more detail as follows:
Concern about contagion of investment instruments such as cryptocurrencies into the financial system has triggered the need to examine the connections between banks and other financial institutions in more depth. We must do more and we will do more. We need to understand the entire underlying chain of NBFIs.