BCBS: Prudential treatment of cryptoasset exposures

30 December 2022

The prudential treatment of banks' exposures to cryptoassets, including tokenised traditional assets, stablecoins and unbacked cryptoassets. The standard is a new chapter of the consolidated Basel Framework (SCO60: Cryptoasset exposures) that the Committee has agreed to implement by 1 January 2025.

The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 16 December to endorse a finalised prudential standard on banks' cryptoasset exposures and the Committee's work programme and strategic priorities for 2023–24.

Exposures and the Committee's work programme and strategic priorities for 2023–24.

Today's endorsement by the GHOS marks an important milestone in developing a global regulatory baseline for mitigating risks to banks from cryptoassets. It is important to continue to monitor bank-related developments in cryptoasset markets. We remain ready to act further if necessary.

Tiff Macklem, Chair of the GHOS and Governor of the Bank of Canada

The Committee's standard on cryptoasset is a further example of our commitment, willingness and ability to act in a globally coordinated way to mitigate emerging financial stability risks. The Committee's work programme for 2023–24 endorsed by GHOS today seeks to further strengthen the regulation, supervision and practices of banks worldwide. In particular, it focuses on emerging risks, digitalisation, climate-related financial risks and monitoring and implementing Basel III.

Pablo Hernández de Cos, Chair of the Basel Committee and Governor of the Bank of Spain

full paper

BIS


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