The surge in stablecoins prompts global banks to review new regulations on crypto assets

According to Bloomberg, global regulators are discussing new rules regarding banks' holdings of crypto assets, which were originally scheduled to take effect next year.

The rapid development of stablecoins has triggered a backlash led by the United States, prompting regulators to consider a comprehensive revision of existing measures. The standard was proposed by the Basel Committee on Banking Supervision at the end of 2022, and financial executives have indicated that banks generally interpret this standard as a signal to avoid crypto assets, as the rules impose heavy capital requirements on holding crypto assets. Sources revealed that major jurisdictions, including the United States, the United Kingdom, and the European Union, have not committed to proceeding with the implementation as originally planned, but are inclined to reassess the relevant standards before broad global implementation to ensure the feasibility and coherence of regulatory measures.