Banks should be more cautious when setting aside capital to cover risks from unbacked cryptocurrency assets, the Bank of International Settlements’ (BIS’) Basel Committee said in a series of proposals Thursday (June 30). The recommendation comes after weeks of instability in the crypto markets, set...
Banking bosses from the largest financial institutions in the U.S. and Europe have voiced their opposition to the cryptocurrency mandates handed down by the Basel Committee for Banking Supervision (BCBS), which proposes strict capital requirements for every dollar of bitcoin owned. The BCBS — comprised...
The year is drawing to a close. Bitcoin hovers at $7,100 and change. Depending on how you view it, it’s a nice bounce off of nadirs of below $4,000 earlier in the year but well off 2019 highs that broke through $11,000 … and a...
The Basel Committee has said in a paper that a “prudential” regulatory framework should be constructed by stakeholders in a bid to address concerns over risks to the financial system. In a paper titled “Designing a Prudential Treatment for Cryptoassets,” the Basel Committee on Banking...
July 09, 2024
A top global banking regulator wants financial institutions to take more responsibility in outsourcing services. “Ongoing digitalisation has led to rapid adoption of innovative approaches in the banking sector,” the Basel Committee on Banking Supervision said Tuesday (July 9) in a new report on outsourcing. “As a result, banks have become increasingly reliant on third parties for services that […]
June 30, 2022
Banks should be more cautious when setting aside capital to cover risks from unbacked cryptocurrency assets, the Bank of International Settlements’ (BIS’) Basel Committee said in a series of proposals...
September 21, 2021
Banking bosses from the largest financial institutions in the U.S. and Europe have voiced their opposition to the cryptocurrency mandates handed down by the Basel Committee for Banking Supervision (BCBS),...
February 20, 2018
It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. According to Reuters, traditional banks will feel the impact if FinTechs start...
