European Banking Authority
|European Banking Authority|
|Key People||Jo Swyngedouw, Interim Chairperson; Adam Farkas, Executive Director|
The European Banking Authority (EBA) acts as a hub and spoke network of the European Union and the national bodies. It safeguards public values such as the stability of the financial system, the transparency of markets and financial products and the protection of depositors and investors. Upon officially coming into being on January 1, 2011, the EBA took over all existing and ongoing tasks and responsibilities from the Committee of European Banking Supervisors (CEBS).
In January 2019, the EBA published the results of its year-long assessment of the applicability and suitability of European Union laws to cryptocurrency. The report found that "a significant portion of activities involving crypto-assets do not fall within the scope of current EU financial services law (but may fall within the scope of national laws)." The report noted that Germany banned crypto derivative products and that the U.K. was considering a similar ban.
- EBA - About Us. European Banking Authority.
- Europe's banking watchdog says EU laws on crypto may be needed. Yahoo Finance.
- EBA reports on crypto-assets. European Banking Authority.