• Basel Committee has approved a framework for banks to disclose their exposure to cryptocurrency.
  • The framework is expected to be published in the next few weeks and must be implemented by 2020.

The Basel Committee on Banking Supervision has approved a framework to disclose banks’ exposures to crypto. This must be implemented before the beginning of 2026.

In a release on Wednesday, the committee, which is part of Bank for International Settlements (BIS), said that it would publish more details in this month. It is the main global standard-setter for prudential banking.

After reviewing responses to an consultation originally published on December 20, 2022, the committee finalized the Framework, which includes a set public tables and templates that cover banks’ exposures to crypto assets. The plans call for banks to provide quantitative and qualitative information about their crypto exposure.

The standard for crypto assets was also revised.

The committee stated in a press release that “these revisions aim to promote a consistent understanding about the standard, especially regarding the criteria to be met for stablecoins receiving a preferential regulatory treatment ‘Group 1b.'” The updated version is due to be released later this month, and it must be implemented before the beginning of 2026.

Sheldon Reback is the editor.