US EditionFinance Industry Seeks Overhaul of Global Crypto Rules for Banks
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Finance Industry Seeks Overhaul of Global Crypto Rules for Banks
Source: Live Mint (Bloomberg) — The world’s major financial lobbying groups called on regulators to pause the upcoming implementation of tough new standards governing banks’ cryptocurrency dealings and revisit measures they argue are needlessly onerous. In a joint letter to the Basel Committee on Banking Supervision, the trade associations said policymakers should “seek updated information” on the use cases for the distributed ledger technolog…
For industry associations, implementing rigorous new standards is unnecessarily burdensome
Industry Calls for Change in Crypto Prudential Standards - Markets Media
A coalition of leading global financial trade associations (“the Joint Trades”), together with Boston Consulting Group (BCG), Ashurst, and Sullivan & Cromwell as technical advisors, issued a letter to the Basel Committee on Banking Supervision (BCBS) urging a pause and recalibration of the Cryptoasset Exposures Standard (SCO60) and a comprehensive report highlighting the transformative potential of Distributed Ledger Technology (DLT) in capital …
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