Basel Committee Warms Up to Bitcoin & Crypto With More Flexible Proposal

After receiving criticism from industry players last year for being too conservative, a committee at the Bank for International Settlements (BIS), has proposed a cap on how much exposure traditional banks can have to cryptoassets “where there is no counterparty.”
According to a new consultation report from the BIS’ Basel Committee on Banking Supervision, the exposure limit for banks should be set at 1% of “Tier 1 capital,” meaning the capital held in a bank’s main reserves….
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