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Global regulators push ahead with crypto bank capital rules
June 02, 2022
Last June the committee proposed that banks set away sufficient capital to cover losses on any bitcoin holdings in full. Certain tokenized traditional assets and stable coins could, in any case, go under existing capital rules and be treated like bonds, loans, deposits, or commodities.
Recently TerraUSD, a stablecoin tied to the U.S. dollar, imploded.
“Ongoing improvements have additionally featured the significance of having a worldwide least prudential structure to mitigate risks from crypto-assets,” the Basel Committee said in a statement.
“Building on the feedback received got by external stakeholders, the Committee intends to publish another consultation paper over the approaching month, with the end goal of finalising the prudential treatment around the end of this current year.”
Nations which are individuals from Basel are focused on applying its agreed principles in their own national rules.
The panel likewise said it has agreed to a finalised set of principles for directing climate-related financial risks at banks.
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