Basel Committee introduces draft guidelines on crypto asset disclosure
The Basel Committee on Banking Supervision has proposed standardized disclosure templates for major banking institutions regarding their crypto asset exposure, aiming for implementation by 2025. The Basel Committee on Banking Supervision (BCBS), an assembly of international banking regulators, unveiled draft guidelines on October 18 for the merge of traditional finance and digital assets. The proposal suggests that major banking institutions should disclose their exposure to crypto assets by 2025. The BCBS believes that standardized disclosure templates will promote consistent information sharing across banks. This consistency will not only benefit the banks but will also provide market participants with a clearer view of financial institutions’ engagements in the crypto sector. A new Basel Committee consultative document proposes a standardised disclosure table and set of templates for banks’ cryptoasset exposures: comments welcome by 31 January 2024 https://t.co/SzMwXNxu...