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 expanded their offerings in the volatile market.
On Monday, bitcoin declined about 10 percent, to a two-week low, after China announced that it summoned officials from its biggest banks to reiterate a ban on providing cryptocurrency services. It's the latest sign that China plans to do whatever it takes to close any loopholes left in crypto trading.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
