Basel proposes crypto disclosures by banks from January 2025
The Basel Committee of banking regulators from the world's main financial centres agreed new rules last December on how much capital banks should hold to cover different types of cryptoassets. On Tuesday, they set out for public consultation how the holdings should be disclosed to investors.
«Under the proposals, banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements,» the Basel Committee said in a statement.
Banks would also be required to provide details of the accounting classifications of their exposures to cryptoassets and crypto liabilities, it said.
Did you Know?
SAP has launched a new enterprise on the Metaverse with the aim of accelerating cloud adoption among Indian firms. The interactive and immersive ‘cloud on wheels’ platform will enable customers to experience the full range of SAP’s offerings and reimagine processes for improved business outcomes.
View Details»The public consultation ends on Jan. 31, 2024.
