Global Banking Standard Setter Approves Disclosure Framework for Crypto Exposures
The Basel Committee on Banking Supervision has approved a disclosure framework for banks' exposure to cryptocurrencies, to be implemented by 2026. The framework includes public tables and templates detailing banks' crypto asset exposures. Banks will be required to disclose both qualitative information about their crypto activities and quantitative information about their exposure to crypto. The committee also approved targeted revisions to the crypto asset prudential standard, aiming to promote a consistent understanding of the standard, especially regarding the criteria for stablecoins to receive a preferential 'Group 1b' regulatory treatment. The details of the framework and the updated version of the standard will be published later this month.
