Basel Banking Oversight Committee Charts Course for Crypto Disclosures by 2025

Basel Banking Oversight Committee Charts Course for Crypto Disclosures by 2025



The Basel Banking Oversight Committee (BBOC) has rolled out unified disclosure blueprints for leading banks concerning their crypto holdings, with a target deployment by 2025.



On October 18, the Basel Banking Oversight Committee (BBOC), a conglomerate of global banking watchdogs, introduced preliminary protocols bridging the gap between conventional finance and digital currencies. They urge premier banking entities to unveil their crypto dealings by the stipulated 2025 deadline.



BBOC is confident that uniform disclosure designs will ensure seamless data interchange among banks. This uniformity stands to favor banks and also offers a transparent lens for market players to perceive banks' crypto endeavors. As per the newly introduced protocols, banks are mandated to share descriptive insights into their crypto-based operations.


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