Banks in the EU should begin imposing limits on bitcoin holdings prior to the implementation of global standards set by the Basel Committee on Banking Supervision (BCBS), according to European Central Bank supervisors on Wednesday. While cryptocurrency has yet to make significant inroads into the EU’s banks, the ECB has stated that they should treat the assets as risky and limit holdings immediately. “The BCBS standard is not yet legally binding pending its transposition in the European Union,” according to an ECB newsletter, which is in charge of directly supervising the currency bloc’s largest banks. “However, if banks wish to participate in this market, they must comply with the standard and incorporate it into their business and capital planning.”
