Robust Bank Capital Rules For Crypto Assets Due By Year End

The global Basel Committee of banking regulators will complete work on "robust" rules.

Robust Bank Capital Rules For Crypto Assets Due By Year End

Bank capital rules for crypto assets due by year end

LONDON:

The global Basel Committee of banking regulators will complete work on "robust" rules for how banks must set aside capital to cover crypto assets on their books, the committee's oversight body said on Tuesday.

"On crypto assets, members reiterated the importance of designing a robust and prudent regulatory framework for banks' exposures to crypto assets that promotes responsible innovation while preserving financial stability," the Group of Central Bank Governors and Heads of Supervision (GHOS) said in a statement.

"The GHOS tasked the Committee with finalising such a framework around the end of this year."

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