Basel Committee Proposes New Crypto Disclosure Rules for Banks
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Banks must disclose information on crypto activities per draft guidance from Basel Committee on Banking Supervision.
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Banks already face hefty capital requirements to discourage unbacked crypto holdings.
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Banks would disclose qualitative info on crypto activities and quantitative data on exposures.
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Disclosures would start in 2025 and support market discipline.
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Plans open for consultation until January 2024.