basel committee – DIGIT INFO

Basel Committee Gives Permissioned Stablecoins ‘Preferential Treatment’ in Amended Crypto Asset Standard Amidst Heavy Criticism

DIGIT — Fri, 19 Jul 2024 19:30:27 +0000

The Basel Committee, responsible for setting standards for bank regulation, has revised its crypto asset standard, introducing new considerations that impact stablecoins. The updated standard favors permissioned stablecoins, such as JPM Coin, over those issued on public chains. This has elicited criticism from figures in the crypto community, who accuse the committee of attempting to […]

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Basel Committee finalizes crypto exposure rules for banks

DIGIT — Wed, 03 Jul 2024 21:40:46 +0000

The committee is unveiling the standards later in July, culminating a yearslong process.

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IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance

DIGIT — Fri, 20 Jan 2023 23:30:16 +0000

An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing […]

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Davos 2023: Banking Panel Reinforces the Need for Crypto Regulation

DIGIT — Fri, 20 Jan 2023 11:30:13 +0000

A group of global banking experts hosted by the World Economic Forum (WEF) convened about the need for global crypto regulation, including stablecoins and unbacked crypto assets. The panel agreed there must be at least some kind of base regulation for these assets and bank-equivalent regulation for blockchain applications seeking to offer products similar to […]

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Basel Committee Finalizes Rules for Bank Exposure to Cryptocurrency Assets

DIGIT — Mon, 19 Dec 2022 15:30:48 +0000

The Basel Committee, the organization in charge of setting global bank standards, has finalized its new rules related to banks and cryptocurrency exposure. The document establishes two different crypto asset classes, including tokenized real assets and stablecoins in one, and other cryptocurrencies in another, discriminating on the collateral and quantity that banks might hold for […]

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Basel Committee: Banks worldwide reportedly own €9.4 billion in crypto assets

DIGIT — Tue, 04 Oct 2022 18:30:00 +0000

The study found that banks mostly held volatile cryptocurrencies and had little exposure to stablecoins.

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Basel Study Shows World’s Largest Banks Are Exposed to $9 Billion in Crypto Assets

DIGIT — Sat, 01 Oct 2022 19:00:32 +0000

A first-of-its-kind study published by the Basel Committee on Banking Supervision details that the world’s largest financial institutions are exposed to roughly €9.4 billion (US$9 billion) in crypto assets. The research paper authored by the Basel Committee’s secretariat Renzo Corrias further explains that out of all the banks’ total risk exposure, cryptocurrency exposure is estimated […]

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Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks

DIGIT — Sat, 12 Jun 2021 15:30:03 +0000

The Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.” Crypto Regulation Proposed by Basel Committee on Banking Supervision The Basel Committee has proposed […]

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