Global Standards Setter Proposes New Crypto-Regulation

By Alex Davidson (June 30, 2022, 5:33 PM BST) — A global standards setter for financial regulators called Thursday for a cut to the amount of capital that banks should hold when trading in risky digital assets such as Bitcoin to help them stay resilient if the value of their crypto-holdings plummets.

The proposal by the Basel Committee on Banking Supervision would allow banks to offset the value of crypto-assets, or digital tokens of value, that they have bought against those they have sold but do not own into a “net” amount requiring them to hold less capital.

Banks would be able to set 65% of those crypto-asset sales — or…

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