Blockchain
BIS Basel Committee approves disclosure framework for banks’ exposures to cryptocurrencies
The Basel Committee on Banking Supervision has approved a disclosure framework for banks’ exposure to cryptocurrencies, to be implemented by early 2026, as global central banks seek to shore up market discipline and ensure sufficient information is available to assess risks.
The committee, which is part of the Bank for International Settlements, will publish details by the end of the month, it said on Wednesday. Press releaseIt is the main body that sets global standards for prudential banks.
The committee finalised the framework, which includes a series of public tables and templates covering banks’ exposures to cryptocurrencies, after reviewing responses to a consultation initially published in December 2022. The plans require banks to disclose qualitative information about their cryptocurrency activities and quantitative information about their exposure to cryptocurrencies.
It also approved a series of targeted revisions to the prudential standard on cryptocurrencies.
“These revisions are intended to further promote a consistent understanding of the standard, particularly with respect to the criteria for stablecoins to receive preferential ‘Group 1b’ regulatory treatment,” the committee said in the release. The updated version will be published later this month and will need to be implemented by early 2026.