Banks to disclose cryptocurrency holdings amid 2023 bank failures
International regulators propose new transparency measures for banks’ crypto asset exposures, following a tumultuous year marked by banking disruptions linked to digital currencies. With the sudden growth and popularity of crypto currencies like Bitcoin (BTC) and Ether (ETH), international regulators are now turning their attention towards the disclosure of these assets by banks, in a bid to maintain financial stability. The Basel Committee on Banking Supervision, an influential body that defines norms for traditional financial institutions, has already made its stance clear: banks should maintain potentially hefty capital against their holdings of cryptocurrencies that lack intrinsic backing. At its 4-5 October meeting, the #BaselCommittee agreed to consult on crypto asset and climate disclosures, approved the annual G-SIB assessment and published its report into the banking turmoil of early 2023 #BaselIII #FinancialRegulation https://t.co/iLVbtP2VzS pic.twitter.com/aSRw7YYH...