The global standard setter for banking regulation want to finalize its treatment of crypto assets near the end of this year.
The Basel Committee on Banking Supervision published an update related to its May 27 meeting today. During that meeting, it says it made progress on a second consultation paper on the"prudential treatment of banks' cryptoasset exposures."last year, proposing to strict capital requirements for banks that have exposure to crypto in addition to applying the existing framework to crypto and issuing guidance to fill in any gaps.
"Recent developments have further highlighted the importance of having a global minimum prudential framework to mitigate risks from cryptoassets."UST lost its peg. The first consultation paper addressed credit and market risk requirements for stabilization mechanisms in tokens, among other concerns. In addition to its crypto plans, the body also addressed climate-related financial risks, risks and vulnerabilities to the global banking system following the outbreak of the Ukraine conflict and the treatment of cross-border exposures within the European Banking Union.
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