October 31, 2019 / 4:24 PM / 20 days ago

Global banking watchdog to study capital requirements for crypto assets

LONDON, Oct 31 (Reuters) - Global banking regulators said on Thursday they will consider how much capital lenders should be setting aside to cover risks from any holdings of crypto assets.

The Basel Committee, which includes banking regulators from the United States, Europe and Japan, said it has agreed to publish a discussion paper on the prudential treatment of crypto assets.

“The Committee reiterated its view that the prudential treatment of banks’ crypto asset exposures should appropriately reflect the high degree of risk of crypto assets,” the committee said in a statement at the end of a two-day meeting in Madrid.

“In light of ongoing initiatives in crypto asset markets, the Committee will seek the views of stakeholders on a wide range of issues related to the prudential treatment of crypto assets.” (Reporting by Huw Jones, Editing by Lawrence White)

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