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Basel Committee: Banks Should Disclose, Back Crypto Holdings

Friday, Oct 06 2023
Regulatory
Written by  FinTech News Brief

International regulators are pushing for new transparency measures compelling banks to disclose their cryptocurrency holdings. So reports Crypto.news.

As such, the Basel Committee on Banking Supervision, which helps define norms in the traditional banking space, is calling for banks to maintain “potentially hefty capital” against cryptocurrency holdings lacking “intrinsic backing.” The collapse of New York’s Signature Bank was cited as one example of the importance of monitoring the intersection between traditional banking and the crypto space.

Read the full article from Crypto.news.

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