At the end of last year, the Basel Committee for Banking Supervision published the final rules for crypto-assets, defining the balance sheet and other requirements for holding crypto. Two groups of assets get very light treatment: qualifying stablecoins and tokenized traditional assets. Today, the Chair of the Basel Committee, Pablo Hernández de Cos, announced an update is coming this year for both these groups.
He said “additional safeguards” are coming for permissionless blockchains, talking at the annual meeting of the Institute of International Finance.
Banks and other institutions are engaging in tokenization – including money market funds, bonds, and tokenized deposits. Some of those activities are on permissioned blockchains, others on public permissionless ones.
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