The online vote of the European Parliament's Economic and Monetary Affairs Management Committee has passed the mandatory capital measures for banks with cryptocurrency.

In a circular on January 24th, the European Parliament announced that the Commission approved and revised the Capital Requirements Regulation and the Capital Requirements Directive applicable to banks with cryptocurrencies by a decisive majority of the network vote. According to a draft law, banks should be required to "calculate the open limit by risk weight" by holding up to 1250% of capital in an open way for cryptocurrency.

The legislature indicated that this change was consistent with the change of the Lisbon Banking Regulatory Commission (BCBS), which undertakes the standardization of international banks. The Group issued a consultation document in 2019, 2021 and 2022, which discussed the classification of encrypted assets into several groups, and suggested how banks should treat potential risks. BCBS reported that by 2021, the bank's encrypted assets were more than $9 billion open.

The legislature said: "(members of the European Parliament) also hope that the bank will announce the openness of its services for encrypted assets and encrypted assets, as well as the actual description of its current policy on risk control related to encrypted assets.". The Committee is invited to submit a legal proposal on professional and prudent treatment of the risks of encrypted assets before June 2023. "

All European parliaments must vote on the proposed amendments to make them into laws and regulations. The Economic and Monetary Affairs Committee approved the Markets in Crypto Assets framework (commonly referred to as MiCA) in October 2022, and then the European Council launched an online vote. It is estimated that the laws and regulations will help to establish a unified encryption control framework among EU countries.