GOLDILOCKS
“The Basel Committee on Banking Supervision has issued a public consultation on proposed amendments to its standard on banks’ exposures to cryptoassets.” These proposed changes will flesh out the criteria needed to back stablecoins with reserve assets and require Banks to have an understanding of how these procedures work to ensure a sufficient understanding of their use.
These public comments and proposed amendments will become crypto asset standards for the next economy. The purpose of public consultation is to allow citizen input to inform policy design along with decision-making processes.
This will be an update to a process that has already taken place and will be due on March the 28th, 2024.
© Goldilocks
https://www.bis.org/bcbs/publ/d567.htm
https://www.bis.org/press/p231214.htm