Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Basel Committee Releases Update on Crypto-Asset Banking Compliance Rules

Basel Committee Releases Update on Crypto-Asset Banking Compliance Rules

Odaily2024/07/17 13:36
By:Odaily
Odaily News The Basel Committee has released an update to its crypto asset banking compliance rules. In its latest consultation, the committee threatened to treat traditional digital securities on public blockchains as having the same risks as cryptocurrencies. This would prevent banks from participating in tokenization initiatives on public blockchains because they are too costly. In addition, the two largest proposed changes regarding stablecoins were removed from the final changes. The consultation suggested that all stablecoin reserves must be placed in a bankruptcy remote tool. It is worth mentioning that the Basel Committee is also considering prohibiting the use of securities financing transactions such as repurchases and reverse repurchases in stablecoin reserves. (Ledgerinsights)
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

PumpSwap’s new revenue-sharing is here

Kriptoworld2025/05/14 14:11

Abraxas Capital Buys $478M in Ethereum in 6 Days

Abraxas Capital Goes All-In on EthereumStrategic Accumulation Signals Institutional OptimismWhat This Means for the Ethereum Market

Coinomedia2025/05/14 12:00
Abraxas Capital Buys $478M in Ethereum in 6 Days