Financial Lobby Groups Urge Reevaluation of Upcoming Crypto Banking Regulations

According to BlockBeats, major global financial lobbying groups have called on regulators to halt the impending implementation of new regulations concerning banks' cryptocurrency operations. They are urging a reassessment of measures they deem excessively stringent. In a joint letter addressed to the Basel Committee on Banking Supervision, these industry associations emphasized the need for policymakers to "seek the latest information" to understand the use cases of distributed ledger technology that underpins digital assets. They suggest that before formally adopting the related standards in 2026, there should be "appropriate redesign and recalibration."