‼️ Basel requirements are slowing the cryptocurrencies

📉 Executives of crypto companies holding bitcoin on their balance sheets are calling on the Basel Committee on Banking Supervision (BCBS) to revise the existing Basel III capital requirements.

Current rules stipulate that banks holding cryptocurrencies must maintain a 1250% capital reserve, compared to 0% for cash or gold, and 400% for shares of private companies.

“This is a very subtle way of suppressing (crypto company) activity, making these operations too expensive for banks,” said CoinFund President Chris Perkins.

In November, the BCBS Chair acknowledged that cryptocurrencies require a different approach. However, no concrete changes have been implemented so far.

$BTC

BTCUSDT

Löpande

68,076.4

+0.33%