The Basel Committee of the BIS has finalized regulatory policy and submitted a final proposal on limits on the amount of Tier 1 capital that banks can hold in bitcoin.
The Basel Committee of the Bank for International Settlements (BIS) on banking supervision has completed the development of additions to the unified regulatory policy of commercial banks. The BIS Working Group has recommended setting a cap on banks’ Tier 1 capital held in bitcoin at no more than 2%.
The BIS proposal was approved by the Group of Central Bank Governors and Supervisors (GHOS), as well as the Basel Committee’s supervisory body, which is “the main developer of global standards for prudential banking regulation.”
The 2% limit is a compromise between the regulator and the banking industry. Initially, the BIS offer was limited to 1%, while commercial banks insisted on 5%.
The other day, BIS conducted a study of the motives of cryptocurrency investors. Experts came to the conclusion that the main reason for investing in digital assets was the thirst for profit, and not a rebellion against the banking system.
Source: Bits
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