Daily Mail - 2021-06-11


Crypto crackdown call

City & Finance

Global banking regulators want crypto-currencies to carry tougher restrictions than any other asset. The basel Committee on banking Supervision (BCBS), a group of the world’s largest central banks, argues institutions which hold crypto- currencies such as bitcoin must also keep back the highest level possible of cash to cover losses if things go wrong. Currently, institutions must hold certain levels of capital – designed to fill any shortfall if the value of assets drops. The BCBS is calling for crypto assets to command higher capital requirements than conventional assets, meaning any bank with £100 of bitcoin would have to hold £100 of spare capital.



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