Global Banking Standard Setter Approves Disclosure Framework for Crypto Exposures

6 months ago |   readers | 2 mins reading
Global Banking Standard Setter Approves Disclosure Framework for Crypto Exposures

The Basel Committee on Banking Supervision approved a disclosure framework for banks’ exposure to crypto that must be implemented by the start of 2026 as the world’s central banks look to support market discipline and ensure sufficient information is available to evaluate risks.
The committee, part of the Bank for International Settlements, will publish details later this month, it said in a Wednesday press release. It is the primary global standard setter for prudential banks.
The committee finalized the framework, which comes with a set of public tables and templates covering banks’ crypto asset exposures, after reviewing the responses to a consultation initially published in December 2022. The plans require banks to disclose qualitative information on their crypto activities and quantitative information on their exposure to crypto.
It also approved a set of targeted revisions to the crypto asset prudential standard.
“These revisions aim to further promote a consistent understanding of the standard, particularly regarding the criteria for stablecoins to receive a preferential ‘Group 1b’ regulatory treatment,” the committee said in the release. The updated version will be published later this month and must also be implemented by the start of 2026.
Edited by Sheldon Reback.

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Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

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