The Basel Committee on Banking Supervision has proposed new measures to address the risks associated with banks’ exposure to cryptoassets, particularly stablecoins. The proposals, outlined in a consultative document published on December 14, aim to mitigate redemption risks during periods of extreme stress and ensure that reserve assets for stablecoins have sufficient collateral. The committee is seeking feedback on the proposals until March 28, 2024, with implementation scheduled for January 1, 2025. The Basel Committee comprises central banks and financial authorities from 28 jurisdictions and previously proposed requiring banks to provide quantitative data on exposures to crypto assets and liquidity requirements.
Source: https://coinpedia.org/crypto-live-news/basel-committee-proposes-cryptoasset-measures-to-mitigate-bank-risks/