🚨🚨🚨 #AHORA 🚨🚨🚨
Banks would have to disclose their holdings of #criptomonedas under new BIS plan
The Basel Committee on Banking Supervision previously recommended capital restrictions to isolate #TradFi from companies such as #bitcoin and #Ethereum .
Banks will have to disclose their cryptocurrency holdings under new plans released Thursday, as international regulators partly blamed banking collapses on the sudden popularity of cryptocurrencies.
The Basel Committee on Banking Supervision, which sets standards for lenders in traditional finance (TradFi), has already said that banks should issue potentially prohibitive capital for their holdings of unbacked cryptocurrencies such as bitcoin $BTC or ethereum $ETH
After a turbulent year that saw the collapse of cryptocurrency exchange FTX, as well as digital-focused lenders Signature and Silicon Valley Bank, the standard setter now wants lenders to disclose their exposure as it seeks to reduce contagion.
A soon-to-be-released consultation paper will propose “a set of disclosure requirements relating to banks’ cryptoasset exposure,” complementing existing capital requirements for digital assets that were finalized in December.
Banks would have to disclose their holdings of #criptomonedas under new BIS plan
The Basel Committee on Banking Supervision previously recommended capital restrictions to isolate #TradFi from companies such as #bitcoin and #Ethereum .
Banks will have to disclose their cryptocurrency holdings under new plans released Thursday, as international regulators partly blamed banking collapses on the sudden popularity of cryptocurrencies.
The Basel Committee on Banking Supervision, which sets standards for lenders in traditional finance (TradFi), has already said that banks should issue potentially prohibitive capital for their holdings of unbacked cryptocurrencies such as bitcoin $BTC or ethereum $ETH
After a turbulent year that saw the collapse of cryptocurrency exchange FTX, as well as digital-focused lenders Signature and Silicon Valley Bank, the standard setter now wants lenders to disclose their exposure as it seeks to reduce contagion.
A soon-to-be-released consultation paper will propose “a set of disclosure requirements relating to banks’ cryptoasset exposure,” complementing existing capital requirements for digital assets that were finalized in December.
