Global banking regulators call for toughest rules for cryptocurrencies

  • Global banking regulators call for toughest rules for cryptocurrencies

    updated 2 days, 21 hours ago 1 Member · 1 Post
  • Anonymous

    June 10, 2021 at 1:21 PM
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    Growth of crypto-assets threatens financial stability and could increase risks faced by banks, they warn

    Global regulators have said cryptocurrencies such as bitcoin should come with the toughest bank capital rules to avoid putting the wider financial system at risk should their value collapse suddenly.

    The Basel Committee on Banking Supervision, which consists of regulators from the world’s leading financial centres, is proposing a “new conservative prudential treatment” for crypto-assets that would force banks to put aside enough capital to cover 100% of potential losses.

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