Breaking 🚨news🚨! The European Insurance and Occupational Pensions Authority (Eiopa) wants to make life harder for insurers who dabble in crypto. They’re suggesting a 100% capital rule for crypto assets. Yes, you heard right! Insurers will need to keep capital equal to the full value of their crypto holdings. Talk about a buzzkill! 😩
Why? To make it so darn expensive that insurers will think twice before investing in digital assets. It’s like telling a kid they can only have ice cream if they eat their veggies first. 🍦🥕
Right now, insurers only have to cover 60% to 80% of their crypto holdings. But under this new rule, they’ll have to cough up the full amount for all crypto assets, including the big boys like Bitcoin 🐐 and Ethereum, plus stablecoins and those fancy tokenized assets linked to traditional finance stuff.
This is a first for Eiopa, setting such strict rules on an asset class. It’s like they’re saying, “We’ve seen what you’ve been up to, and we’re not amused!” 😤
But 🤑
And guess where most of these holdings are? Luxembourg, the crypto playground of Europe. Seems like it’s more about investment funds playing around than insurers getting their hands dirty. 🙅♂️🚫
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2025-03-30 16:06