Bloomberg: Stablecoin Surge Prompts Regulators to Review Global Banking Crypto Asset Rules

Techub News, according to Bloomberg, global regulators are discussing new rules for banks' cryptocurrency asset holdings, which were originally scheduled to take effect next year. Due to the rapid development of stablecoins, a U.S.-led backlash has emerged, prompting regulators to consider a comprehensive revision of the original measures. The standards were proposed by the Basel Committee on Banking Supervision at the end of 2022. Financial executives indicated that banks generally interpreted these standards as a signal to avoid cryptocurrency assets, as the rules impose heavy capital requirements for holding them. Insiders revealed that major jurisdictions, including the United States, the United Kingdom, and the European Union, have not committed to implementing the rules as originally planned. Instead, they prefer to reassess the relevant standards before widespread global implementation to ensure the feasibility and coordination of regulatory measures.