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EU insurance sector asked for feedback on cryptoassets' advice

( October 24, 2024, 11:47 GMT | Official Statement) -- MLex Summary: The European Insurance and Occupational Pensions Authority opened a consultation on its draft technical advice on standard formula capital requirements for investments in cryptoassets. The EU’s regulatory framework for insurers lacks specific provisions on cryptoassets, leading to an inconsistent approach to the classification of cryptoassets and concerns about their inherent risks. With this advice, Eiopa is proposing a "harmonized, prudent and proportionate treatment of cryptoassets," the authority says. Feedback can be provided until Jan. 16, 2025. Press release follows. Consultation paper attached. ...

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