Basel Committee to Review Proposed Capital Requirements for Banks With Crypto Assets

Basel Committee to Review Proposed Capital Requirements for Banks With Crypto Assets
The global standard-setter for banking regulation plans to elaborate on its proposed capital requirements for crypto assets after receiving criticism from leading global banks.The Bank for International Settlements’ Basel Committee said Tuesday that it will ‘further specify’ the proposed capital requirement and issue a new consultative document by mid-2022.The statement was released after the committee reviewed comments on its consultation from June, which said banks exposed to high-risk crypto assets like bitcoin should hold capital equal to the exposure.Under that proposal, a bank with an original exposure to crypto of $100 has a minimum capital requirement of $100.A forum of…