Basel Committee reviews bank crypto-asset rules amid stablecoin surge: Report

The Basel Committee on Banking Supervision (BCBS) is preparing to revise its 2022 guidance on banks' exposure to crypto-assets next year, aiming for a more favorable stance, according to a Bloomberg report. The existing 2022 rules have largely led banks to avoid digital assets altogether. The review is prompted by the rapid growth of stablecoins, which under current Basel rules face the same high capital charges as riskier assets like Bitcoin, despite arguments that regulated, asset-backed stablecoins pose lower risks. The Basel Committee is a global body setting international standards for bank regulation, and its rules are not yet fully implemented by jurisdictions like the US, UK, and EU. Some market participants, like CoinFund's president, have criticized the current capital requirements as a "chokepoint" designed to suppress crypto industry growth. The EU's MiCA framework, for instance, already allows stablecoins to receive capital treatment equivalent to their backing assets.

(Source：Cointelegraph)