The EU authorities will require the banking sector to publish information about the availability of reserves in digital currencies. This clause will become part of the EU crypto regulation legislation (MiCA).
Brussels believes that increased market transparency will offset the risks for the financial system of the eurozone.
The European Commission took the initiative to oblige all credit institutions operating in 27 countries of the Union to disclose such information.
In addition, the EU plans to tighten control over crypto companies that provide services for the storage and exchange of digital assets. Such platforms should have reserves to cover all potential risks.
The MiCA law has recently been approved by the authorities of all 27 countries of the union. It will regulate both the activities of blockchain companies and banks that have begun to enter the crypto market.
Back in 2022, financial giants such as Santander and Crédit Agricole began offering digital currency acquisition and custody services.
