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The UK Government has opposed the call by a panel of cross-party British lawmakers to regulate 'unbacked' crypto assets such as Bitcoin and Ether as gambling. The executive arm argued that such treatment runs contrary to standards recommended by global bodies such as the G20 Financial Stability Board. ‘Same Activity, Same Risk’ In
The Reserve Bank of India, in its financial stability report released on December 29, 2022, said that the turmoil across the crypto assets market has shown the importance of an international regulatory framework for the same.
Monday, July 12, 2021 BACKGROUND On 10 June 2021, the Basel Committee on Banking Supervision (BCBS) published a preliminary proposed framework for the prudential treatment of cryptoasset exposures based on classification cryptoassets (the Proposal). 1 Under the Proposal, banks would be subject to risk-weighted capital and liquidity and on-going monitoring requirements for cryptoassets held on their balance sheets. Specifically, the Proposal seeks to map the regulatory capital requirements for cryptoassets that are redeemable into physical assets to the treatment of those assets an...