According to online reports, the European Insurance and Occupational Pensions Authority (EIOPA) proposed in a technical recommendation report submitted to the European Commission on March 27 that insurance companies be required to maintain funds equal to their value for their cryptocurrency holdings as a measure to reduce policy holders 'risk. The proposed standards are far stricter than other asset classes, such as stocks and real estate, which do not even need to meet half the funding requirements. EIOPA said in a separate statement: "Given the inherent risk and high volatility of these assets, a 100% discount on crypto assets in the standard formula is prudent and appropriate." In addition, EIOPA pointed out that this measure will fill a regulatory gap between the Capital Requirements Regulation and the Cryptographic Asset Markets Regulation (MiCA), as the EU's current insurance company regulatory framework lacks specific provisions on crypto-assets.