The Swiss financial watchdog FINMA has reportedly advised the country’s financial institutions to set crypto asset risk coverage at 800 percent of their value.
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Report: Swiss Financial Watchdog Recommends Banks Set Crypto Risk Coverage at 800%
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That's too much I think. just for example, for some ordinary credit the risk coverage is about 5%...this makes no sense....but, in other way, they could earn a lot if there is enough mad and greedy people...
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they just try to manipulate the market but they never can if they plan something.
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I hope that cryptocurrency somehow can stay independent for all this kind of institutions and regulations beacause thats the main point of crypto. Be your own boss in a trustless network and don't ask for any regulations or rules, thats true financial freedom!
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LOL I bet they didnt set that for other derivatives. It is amazing how the banking sector is treating these assets. I will enjoy watching crypto eat their lunch.
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They want to play safe and I can understand because the crypto currency values are very volatile..
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