Bitcoin, Ethereum, XRP: Banks’ Crypto Holdings Exposed By BCBS
In an unprecedented analysis, the Basel Committee on Banking Supervision (BCBS) has unveiled a comprehensive report detailing the involvement of banks in crypto assets like Bitcoin, Ethereum, and XRP. The data, which marks a significant step in understanding institutional engagement in the crypto sector, reveals that total crypto exposures reported by banks stand at approximately […]
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Global banks have begun actively integrating crypto assets into their financial operations, and XRP has been one of their top preferences. This news signifies a shift in the skepticism surrounding cryptocurrencies, revealing how some of the world’s leading banks seek to leverage XRP’s fundamental strengths as a cross-border payments system. BCBS Highlights XRP Dominance In The Banking Sector The Basel Committee on Bank Supervision (BCBS) has recently published its first data collection template report on banks’ holdings of crypto assets. This report gives detailed insight into the....
The Basel Committee on Banking Supervision proposed tough requirements for banks that want to hold cryptocurrencies like Bitcoin. The Basel Committee on Banking Supervision (BCBS), a global committee of banking supervisors and central banks, has proposed new requirements for banks that want to hold cryptocurrencies like Bitcoin (BTC).In a consultation paper published Thursday, the committee provided preliminary proposals for the prudential treatment of crypto exposure by banks.The paper built on the contents of the committee’s 2019 discussion paper and responses received from various....
Grayscale is known to be one of the largest holders of the flagship cryptocurrency, Bitcoin. However, a recent report by crypto analytics platform Arkham Intelligence suggests that the asset manager could also be the entity with the second-largest Ethereum holdings. Related Reading: Former SEC Chair Guarantees Bitcoin Spot ETFs: Inevitable Approval Grayscale Holds Close To […]
Pro-XRP and crypto attorney John E. Deaton, who won the Republican nomination for Senate in Massachusetts, has emerged as one of the largest crypto holders in the political space ahead of the election, with significant holdings in the largest digital assets on the market. XRP Defender John E. Deaton’s Crypto Holdings Exposed Deaton, known not […]
Proposed rules would make "bank involvement in the cryptoasset market cost-prohibitive from a capital perspective," industry associations have told regulators. Nine banking industry associations have submitted a letter to the Basel Committee on Banking Supervision (BCBS) in response to its proposal to introduce stringent capital requirements for banks looking to hold crypto assets on their books.In June of this year, the BCBS had published a consultation paper which assigned a 1,250% risk weight to Bitcoin (BTC), meaning that banks would need to hold $1 in capital for each $1 worth of....