Cryptocurrencies
Banks Chart Cautious Crypto Plans With Regulators Taking Aim
- Lenders exploring how to engage with the nascent asset class
- Basel Committee calling for tough crypto capital requirements
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Banks looking to expand into the wild world of crypto are getting a pointed reminder from regulators of the risks involved.
The Basel Committee on Banking Supervision said June 10 that they’re planning to assign Bitcoin, among other crypto products, the toughest capital requirements for any bank that wants to hold it. The standard setters said that the risks to financial stability would be significant if banks do expand their offerings in the volatile market.