European Union (EU) banks that are exposed to cryptocurrencies like bitcoin would face caps and hefty capital requirements under proposed amendments to a financial-services law published Wednesday. The plans, tabled by green party lawmaker Ville Niinistö, seek to anticipate capital norms currently being consulted on by international standard-setters, the Basel Committee on Banking Supervision. Under the plans, set out in a document dated Aug. 11, crypto assets like bitcoin, which are deemed unduly volatile or risky, and known collectively as class 2, would have the most cautious possible rating. In effect, this means ... (full story)