Basel draft rules make crypto too costly for banks to trade, says industry
Cointelegraph
Published Sep 23, 2021 04:59AM ET
Updated Sep 23, 2021 06:40AM ET
Nine banking industry associations have submitted a letter to the Basel Committee on Banking Supervision (BCBS) in response to its proposal to introduce stringent capital requirements for banks looking to hold crypto assets on their books.
In June of this year, the BCBS had published a consultation paper which assigned a 1,250% risk weight to Bitcoin (BTC), meaning that banks would need to hold $1 in capital for each $1 worth of exposure they have to Bitcoin.
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Written By: Cointelegraph
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