Bank for International Settlements Prepare to Set Interbank Crypto Reserve Limit at 2% Effective January 1, 2025

The international standard for banks’ exposure to crypto assets has been adopted by the Group of Central Bank Governors and Heads of Supervision (GHOS) of the Bank for International Settlements (BIS). It must be done on January 1, 2025. followOfficially announced on December 16th.

The report, titled “Prudential treatment of cryptoasset exposures,” introduces a final standardized framework for banks regarding exposure to digital assets, including tonedized traditional assets, stablecoins and unbacked cryptocurrencies. According to the Basel Committee on Banking Supervision, The report will soon be included in a new chapter in the Basel framework.

The BIS announcement highlights that the direct exposure of the global banking system to digital assets remains relatively low. But the latest developments have concluded. “The importance of having a strong minimum framework for banks operating offshore to mitigate risk”

“Unbacked cryptoassets and stablecoins with inefficient stabilization mechanisms. must be handled carefully The standard will provide a robust and globally prudent regulatory framework for the crypto asset risks of internationally active banks. This will foster responsible innovation while maintaining financial stability.”

Pablo Hernández de Cos, Chairman of the Board of Basel and Governor of the Bank of Spain Said this standard: “Council Standards on Digital Assets It is a further example of our commitment, willingness and ability to act in a globally coordinated manner to mitigate financial stability risks that arise.”

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