Basel Committee to issue second consultation on crypto

The global standard setter for banking regulation want to finalize its treatment of crypto assets near the end of this year.

The Basel Committee on Banking Supervision (BCBS) published an update related to its May 27 meeting today. During that meeting, it says it made progress on a second consultation paper on the "prudential treatment of banks' cryptoasset exposures."

The body published a first consultation paper last year, proposing to strict capital requirements for banks that have exposure to crypto in addition to applying the existing framework to crypto and issuing guidance to fill in any gaps. It received feedback on the public consultation from external stakeholders, which the following consultation will build on. It plans to release that paper "over the coming month, with a view to finalising the prudential treatment around the end of this year," it said in its update.


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