Basel Committee wants all banks to declare their digital asset holdings

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As Bitcoin shot through the $50,000 price level, the whole market followed suit.
As Bitcoin shot through the $50,000 price level, the whole market followed suit.

The Basel Committee – a group of global banking regulators – has begun proposals to create a standard for leading banks to disclose their digital asset holdings.

Committee members, who last year agreed how the rules should look, were looking to implement the proposals at the start of 2025 following a public consultation which ends on on January 31 2024.

“Under the proposals, banks would be required to disclose qualitative information on their activities related to crypto assets and quantitative information on exposures to crypto assets and the related capital and liquidity requirements,” a statement said.

A further consideration within the proposals would also see banks having to provide details of the accounting classifications relating to the their crypto liabilities.