The global Basel Committee of banking regulators will complete work on “powerful” rules for how banks must set aside capital to cover cryptoassets on their books, the committee’s oversight body said on Tuesday.
“On cryptoassets, members emphasized the importance of designing a robust and prudent regulatory framework for banks’ exposures to cryptoassets that promotes responsible innovation while preserving financial stability,” the Group of Central Bank Governors and Heads of Supervision (GHOS) said in a statement.
“The GHOS requested the Committee finalizing such a framework around the end of this year.”
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