On October 31, Bloomberg reported that global regulators are discussing new rules regarding banks' holdings of crypto assets, which were originally scheduled to take effect next year. The rapid growth of stablecoins has triggered a backlash, primarily in the United States, prompting regulators to consider a comprehensive revision of existing measures.
The standard was proposed by the Basel Committee on Banking Supervision in late 2022. Financial executives say that banks generally interpret the standard as a signal to avoid crypto assets, as the rules impose heavy capital requirements on holding crypto assets.
Sources familiar with the matter revealed that major jurisdictions, including the United States, the United Kingdom, and the European Union, have not committed to proceeding with the original plan, but rather tend to reassess the relevant standards before widespread global implementation to ensure the feasibility and coordination of regulatory measures.
