The committee is unveiling the standards later in July, culminating a yearslong process.
The Basel Committee met on July 2-3 and made policy decisions on issues that included disclosure of banks’ crypto exposure. Its decisions are part of the Basel III reforms that were begun in 2019 to enhance the resilience of European Union banks through regulation, supervision and risk management.
A disclosure framework for banks’ crypto assets was proposed in December 2022 and opened for comments in May 2023. The framework includes a set of targeted amendments to the original proposal and revisions to the prudential standard for stablecoin holdings.
Disclosure is intended to enhance transparency and encourage market discipline. Updated standards will be published later in July, according to a Bank for International Settlements (BIS) statement.