All articles tagged with #basel committee
Finance industry groups are urging the Basel Committee to delay implementing new crypto risk standards, arguing that the current rules are too conservative given the market's growth and increased integration with mainstream finance, and calling for a reassessment before enforcement begins in 2026.
The Federal Reserve has declined to support a Basel Committee proposal requiring banks to disclose climate risks, potentially stalling global efforts to integrate climate considerations into banking regulations. Despite adjustments made to accommodate the Fed, the proposal's future remains uncertain, with the possibility of it being shelved indefinitely.
The European Union has reached a political agreement on new regulations for crypto assets as part of changes to the Capital Requirements Regulation and Directive. The rules aim to prevent unbacked cryptocurrencies from infiltrating the traditional financial system and boost the strength and resilience of banks operating in the EU. The agreement includes a transitional prudential regime for crypto assets, with details yet to be disclosed. The final text will be issued alongside new banking rules by the Basel Committee on Banking Supervision, with implementation expected by January 2025.