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EIOPA consults on draft technical advice on standard formula capital requirements for crypto assets

Published on: 24 October 2024
Published by LNB News

LNB News 24/10/2024

Document Information

Issue Date: 24 October 2024

Published Date: 24 October 2024

Jurisdiction(s): Eire and European Union

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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