Basel Committee Finalizes Framework for Mandatory Bank Crypto Disclosures

IconCryptoNewsTerminal Staff03 Jul, 2024

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Basel Committee Finalizes Framework for Mandatory Bank Crypto Disclosures

The Basel Committee, an international group of central bank governors and supervisors from major advanced economies, has approved a framework for mandatory bank crypto disclosures and a set of revisions to its prudential standards for crypto-assets. The disclosure framework aims to enhance transparency and comparability of crypto exposures across banks, while the prudential standard revisions address the regulation of stablecoins. The finalization of these measures is expected by the end of this month, with a proposed implementation date of January 1, 2026. These steps by the Basel Committee represent significant progress in the development of a comprehensive regulatory framework for crypto-assets.

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