Article summary
The European Insurance and Occupational Pensions Authority (EIOPA) has launched a consultation paper on its draft technical advice regarding the capital requirements for cryptoassets held by EU insurers. EIOPA highlights concerns over the lack of transparency, low liquidity, and extreme price volatility associated with cryptoassets and proposes introducing a 100% stress on cryptoassets without diversification, regardless of their balance sheet treatment and whether the exposures are direct or indirect. Responses are sought by 16 January 2025.
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