Basel Committee reviews bank crypto-asset rules amid stablecoin surge: Report

Banks may soon take a softer stance on crypto as the Basel Committee prepares to revise its 2022 guidance on banks’ exposure to digital assets, according to Bloomberg.

Global banks may soon take a more favorable view of cryptocurrencies as the Basel Committee on Banking Supervision (BCBS) prepares to revise its landmark guidance on crypto exposure, according to a Bloomberg report published Friday.

According to Bloomberg, citing sources familiar with the matter, the Basel Committee’s 2022 guidance on banks’ treatment of crypto will be updated next year to be more favorable. This follows the issuance of previous standards in 2022, with most banks interpreting them as a signal to avoid crypto altogether.

Bloomberg’s sources said the Basel Committee recently held talks about the appropriateness of the previous rules, which the United States, United Kingdom and the European Union have yet to fully implement.

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