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Basel Committee introduces crypto asset-based regulations

According to an official release, Basel Committee, a banking supervisor, published a consultative document on October 17, 2023. This document is expected to follow on from its prudential standard on the treatment of crypto asset exposures, finalised in December 2022. Disclosure of crypto asset exposures is expected to propose a standardised disclosure table and set of templates for banks’ crypto-asset exposures with a proposed implementation date of 1 January 2025. Sources revealed that the banks would also be required to provide details of the accounting classifications of their exposures to crypto assets and crypto liabilities.

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