The BIS has approved the proposed regulations on banks' disclosure of cryptocurrency risk exposure

ChainCatcher news, the Bank for International Settlements (BIS) has approved the proposed regulations regarding banks' disclosure of cryptocurrency risk exposure. The Basel Committee, a subsidiary of the Bank for International Settlements, approved the proposed regulations on banks' disclosure of cryptocurrency asset risk exposure and amendments to the prudent regulation of cryptocurrency assets during a meeting held on the 2nd and 3rd of this month.

This will require banks to disclose their risk exposure information related to virtual assets, including trading activities and holdings. The Basel Committee began developing the proposed regulations in December 2022, aiming to establish standards for the risk assessment of virtual assets and provide adequate information. The Basel Committee will release more detailed information about the proposed rules later this month. The finalized rules will take effect starting in 2026.