Stablecoin Surge Prompts Review of New Global Bank Crypto Rules

Global regulators are in talks about overhauling rules on banks’ crypto holdings due to come into force next year after the rapid development of stablecoins sparked a US-led pushback against the original measures.

Conceived by the Basel Committee on Banking Supervision in late 2022, senior finance executives say the standards were largely interpreted by banks as a signal to avoid crypto since they imposed a heavy capital burden on such holdings.

Since then, crypto has evolved from an area described as the Wild West of finance by a US regulator to an industry embraced by the White House.

That’s prompted ...