Crypto brought to heel? – either it was central banks countries or transnational financial organizations Like the IMF, all the choir wishes in it bitcoin (BTC) cryptocurrency too under close supervision. In particular (just?) so as not to do much The competition to their fiat currency, and their multiple cash interventions don’t hold back much. The Basel Committee on Banking Supervision (CBCB) is keeping a close eye on this regulation of crypto assets.
Regulatory “wisdom” fatal to blockchain innovation?
The Basel Committee on Banking Supervision (Basel Committee on Banking Supervision) is a conference that meets four times a year at Bank for International Settlements (Bank for International Settlements). This committee deals with everything related to the supervision and regulation of banks.
But apparently one of these bankers’ last concerns was rather: encrypted assets. Like the reports In particular Cointelegraph, BCBS is very actively working on Regulatory proposals. Not on banks, but of course bitcoin and the likes.
In June 2022, the Basel Committee launched a second consultation on “Precautionary treatment of exposures to crypto assets”. And to the extent that we prevent it immediately, as we shall see to caution He wants to be Excessive, extreme, reckless.
The Basel Committee would like to strangle the cryptocurrency sector, otherwise it would not have done so
be cerfull , the answers BCBS cipher regulation proposals are salty. They explain danger These proposals bring to digital assets.
” [Les propositions du CBCB] would greatly reduce – Even, that would prevent Banks use the advantages of distributed ledger technology (DLT). Technology that allows some banking, brokerage and other traditional financial functions to be carried out more efficiently. »
Richard Gray, Director of Regulatory Affairs at the Institute of International Finance (IIF),
In fact, BCBS divides digital assets into two main categories. for the first time group 1which consists of “crypto assets” (encrypted assets) that are supervised and regulated like their counterparts in conventional finance. And then Group 2which relates to “cryptocurrency” (Digital currencies). With regard to this second group, banks can potentially expose only 1% of their own money for this category.
The response group is responding to him to consult with the Basel Committee, and also, if he supports a regulatory framework for cryptocurrency, then this should not be So restrictive that it effectively excludes banks from participating.. In the crypto world too, we’d like regulations (in the EU in particular) not to target Sector killed by strangulation.
Cryptography is nonsense, no offense to BCBS. Sign up now on Bitget and make the first trade. You will then get a bonus of $20 in USDT! Limited time offer, reserved for the first 1000 subscribers (commercial link, see conditions on the official website).