Jakie ryzyko regulacyjne kryptoaktywów mogą podejmować banki (w UE)?

M. Konrad  Borowicz

doi:10.26354/bb.3.2.99.2025

Published: 2025-08-29

Vol. 99 No. 2 (2025)

What Crypto Risks Can Bank Take (in the EU)?

M. Konrad Borowicz

Section: Problems and Opinions

https://doi.org/10.26354/bb.3.2.99.2025

Abstract

This article examines the types of crypto-asset risks that EU banks can prudently take under the transitional regulatory regime introduced by Article 501d of CRR3 and supplemented by the EBA’s draft regulatory technical standards (RTS). The analysis is grounded in the evolving EU legal framework, particularly MiCAR and CRR3, and considers how banks may engage with crypto-assets through custody, payments and trading, and issuance. It also reviews industry responses to the draft RTS and highlights key accounting challenges, especially the tension between fair value and cost models under IFRS. It concludes that while crypto offers strategic and technological opportunities for banks—particularly in custody and tokenized finance—their ability to scale such activities remains heavily constrained by prudential rules and regulatory uncertainty.

Keywords:

crypto-assets , crypto custody , Capital Requirements Regulation (CRR3) , Markets in Crypto Assets Regulation (MiCAR) , prudential regulation , stablecoins , Basel framework

JEL Codes

G21, G28, G32, O33, M41

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Borowicz, M. K. . (2025). What Crypto Risks Can Bank Take (in the EU)?. Safe Bank, 99(2), 51–70. https://doi.org/10.26354/bb.3.2.99.2025

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Vol. 99 No. 2 (2025)
Published: 2025-08-29

ISSN: 1429-2939

eISSN: 2544-7068

10.26354

Publisher

Bankowy Fundusz Gwarancyjny

Licence CC

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

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