Today the Basel Committee approved a set of changes to the cryptoasset standard that was first published in December 2022. However, the standard will only be published later this month. It also finalized the set of tables and templates for banks to use in cryptoasset disclosures. Previously the Committee delayed the implementation date to 1 January 2026.
Additionally, the Committee discussed the prudential implications of tokenized deposits and stablecoins. Their financial stability risks depend on their design and the laws in various jurisdictions. However, it views the financial stability risks as broadly captured by the existing Basel Framework but will continue to monitor the topic.
Today’s announcement focused on changes to the standards for stablecoins to be considered part of Group 1b – the group that receives a relatively low risk weighting typical of mainstream securities. It did not expressly mention permissionless blockchains.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
