The Basel Committee on Banking Supervision is reassessing crypto regulations that will come into effect next year

The Basel Committee on Banking Supervision is re-examining the crypto regulatory framework that was due to be implemented next year, with a focus on stablecoins. The previous version of the rules was widely seen in the industry as a warning for banks to hold crypto assets because it required high capital occupation for related assets. Major jurisdictions, including the US, UK and European Union, have not committed to go ahead with implementation as originally planned, preferring to reassess the relevant standards to ensure the feasibility and coordination of regulatory measures before they are widely implemented globally, according to people familiar with the matter.