ussenators

A group of pro-crypto senators in the US, led by Cynthia Lummis and Dan Sullivan, has officially demanded that the Fed and FDIC scrap the suffocating Basel standard with a risk-weighting of 1250% on digital assets. The lawmakers outright called this punitive norm a hidden punitive ban, forcing banks to reserve a dollar of capital for every dollar of Bitcoin purchased, making its integration into TradFi commercially pointless.

If the senators' push is successful and Basel III rules are softened, the gates for banking capital to flood into the crypto market will swing open faster than the infamous SAB 121 directive was revoked.

​#BitcoinRegulation #USSenators #FederalReserve #BaselIII #CryptoBanking