Governors approve plan to regulate banks’ crypto exposures
Basel standards place heavy risk weighting on unbacked crypto assets in bid to limit banks’ exposures
The body that oversees the Basel Committee on Banking Supervision has approved plans to regulate banks’ exposures to crypto assets.
The Group of Central Bank Governors and Heads of Supervision (GHOS) approved the final draft of the Basel Committee’s crypto standards on December 16. The action follows the dramatic collapse of crypto exchange FTX in November, and the failure of a major stablecoin earlier in the year.
As the Basel Committee is a standard-setting body, its framework needs to be
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