Crypto Exposure Protocols on the Agenda for Global Banking Regulator

The Bank of International Settlements (BIS) has put cryptocurrency exposure protocols on its agenda.

The global banking body is seeking stakeholder opinions on the best course of action on the issue of banks interacting with crypto assets. From central banks and other regulators to intergovernmental working bodies, legacy finance gatekeepers seem to be paying greater attention to the emerging cryptocurrency market.

Public Consultation on Crypto Assets

According to a communique issued by the Bank for International Settlements (BIS) on Monday (June 7, 2021), the Basel Committee is turning its attention to cryptocurrencies. The move is part of a wider post-crisis study amid the ongoing COVID-19 pandemic.

Detailing its crypto-related plans, the Basel Committee, which is the primary global standard on matters concerning banking regulation and supervision, agreed to hold a public consultation on cryptocurrencies. Read More