Regulators plan ‘conservative’ bitcoin capital rule
Basel Committee wants banks to provide full cover for losses in holdings of cryptocurrencies
10 June 2021 - 17:22
London — Banks must set aside enough capital to cover losses on any bitcoin holdings in full, global regulators proposed on Thursday, in a “conservative” step that could prevent extensive use of the cryptocurrency by big lenders.
The Basel Committee on Banking Supervision, comprising regulators from the world’s leading financial centres, proposed a twin approach to capital requirements for cryptoassets held by banks in its first bespoke rule for the nascent sector...
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