šØ Banks may soon have to disclose their #cryptocurrency holdings! The Basel Committee on Banking Supervision is set to propose new disclosure requirements for banks' crypto asset exposures, following a year of turbulence in the industry. This comes after the Committee already suggested potentially prohibitive capital for holdings of unbacked crypto like #Bitcoin and #Ethereum.
š The sudden popularity of crypto has been partly blamed for the collapse of crypto exchange FTX and lenders Signature and Silicon Valley Banks. The Committee's report highlights crypto as one of the structural trends indirectly responsible for recent banking stress.
š¬ What do you think about these new disclosure requirements? Will they bring more stability to the industry or stifle innovation? Share your thoughts in the comments!
š The sudden popularity of crypto has been partly blamed for the collapse of crypto exchange FTX and lenders Signature and Silicon Valley Banks. The Committee's report highlights crypto as one of the structural trends indirectly responsible for recent banking stress.
š¬ What do you think about these new disclosure requirements? Will they bring more stability to the industry or stifle innovation? Share your thoughts in the comments!