Regulators Finalising Banks' Crypto Assets Rules

Global regulators said on Tuesday they will complete work by year end on how much capital banks should hold to cover crypto assets

Global regulators said on Tuesday they will complete work by year end on how much capital banks should hold to cover crypto assets on their books.

Last June the committee proposed that banks set aside enough capital to cover losses on any bitcoin holdings in full.

Certain tokenised traditional assets and stablecoins could, however, come under existing capital rules and be treated like bonds, loans, deposits or commodities.

Earlier this month TerraUSD, a stablecoin tied to the US dollar, collapsed.