Basel Committee Reevaluates Cryptocurrency Regulation Framework

According to Odaily, the Basel Committee on Banking Supervision is reassessing its cryptocurrency regulation framework, initially set for implementation next year, with a focus on stablecoin regulations. The previous version of the rules was widely seen as a warning to banks holding crypto assets due to its requirement for high capital reserves. Sources indicate that major jurisdictions, including the United States, the United Kingdom, and the European Union, have not committed to proceeding with the original plan. Instead, they prefer to reevaluate the standards globally to ensure the feasibility and coordination of regulatory measures.