ABA-Basel Committee Taking a Look at Crypto-Assets, Virtual Currencies.

ENPNewswire-December 13, 2019--ABA-Basel Committee Taking a Look at Crypto-Assets, Virtual Currencies

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Release date- 12122019 - The Basel Committee on Banking Supervision is seeking public feedback on how regulators should incorporate 'crypto-assets,' including virtual currencies like bitcoin, into bank supervision.

Specifically, the committee today sought feedback on the features and risk characteristics of crypto-assets-which it did not describe as cryptocurrencies, since they 'do not reliably provide the standard functions of money and can be unsafe to rely on as a medium of exchange or store of value'-as well as broad principles to guide how bank regulators should treat bank exposures to these assets.

'While the crypto-asset market remains small relative...

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