JPMorgan, Deutsche Bank Oppose Strict Basel Rules For Banks Holding Bitcoin
The biggest U.S. and European banks oppose strict new rules that would require them to set aside a dollar in capital for every dollar of bitcoin they own.Three months after global banking regulators proposed strict new rules for traditional financial institutions seeking bitcoin exposure, JPMorgan, Deutsche Bank, and other banking giants opposed what would require them to set aside one dollar in capital for each dollar of BTC they own.The strict rules were proposed in June by the Basel Committee for Banking Supervision, a group of regulators from the world’s most prominent financial....
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