Global Banking Regulators Advocate for Stricter Crypto Asset Disclosures Amid Financial Disruptions

Global Banking Regulators Advocate for Stricter Crypto Asset Disclosures Amid Financial Disruptions



After a year marked by banking issues related to digital currencies global banking regulators are advocating for more transparent disclosure measures regarding banks holdings of cryptocurrencies.



The increasing popularity of cryptocurrencies like Bitcoin (BTC) and Ether (ETH) has caught the attention of authorities who aim to ensure financial stability by scrutinizing how banks disclose these assets.



The Basel Committee on Banking Supervision, an institution responsible for setting standards in traditional financial institutions has made it clear that banks should allocate a significant capital reserve for their cryptocurrency holdings, particularly those lacking intrinsic value. This emphasis stems from the challenges faced by the crypto industry year including the collapse of crypto trading platform FTX and crypto focused banks


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#Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News

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