Global banking regulator outlines proposals for the prudential classification and treatment of cryptoassets
The Basel Committee on Banking Supervision has published a formal consultation paper on the prudential regulatory treatment of cryptoassets. This marks a significant milestone in outlining, for the first time, proposals for a Basel standard on the prudential classification and treatment of cryptoassets. Although the objectives of the consultation are welcome in terms of seeking to address potential financial stability concerns, there are material areas of uncertainty and limitations in the proposals, as we discuss in our latest publication.
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