Regulation
Regulators push back crypto asset rules for banks until 2026
The Group of Governors and Chief Supervisors of Central Banks (GHOS), the body responsible for the Basel Committee on Banking Supervision, has extended the deadline for compliance with new regulations on banks’ crypto assets by a year . The project deadline has been changed to January 1, 2026.
The Basel Committee initially published these standards in December 2022 to address financial risks related to crypto asset issues while allowing the banking industry to innovate responsibly.
This postponement is supposed to allow member countries to take more time to create a defined and single regulatory framework for crypto assets. GHOS ensures that there is a more equal environment between countries and that the global economy becomes more stable.
The report clearly indicates a cautious approach from regulators towards crypto assets. They seek to balance the need for innovation while maintaining financial stability. The extended lead time available to banks allows them more time to prepare for the new rules.
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