Wall Street Groups Urge Basel to Rethink ‘Outdated’ 1,250% Crypto Capital Rules
Major financial trade associations, including the Global Financial Markets Association and the Institute of International Finance, formally requested the Basel Committee on Banking Supervision pause implementation of its 1,250% capital requirement for crypto exposures. The August 19 letter argues that the 2022 framework has become obsolete due to rapid developments in distributed ledger technology and…