"The Basel Committee approved a disclosure framework for banks' crypto exposure! 🎉 It needs to be implemented by 2026, but hey, we've got 5 more years, right? 😂

This framework comes with a set of public tables and templates covering banks' crypto asset exposure. It requires banks to disclose qualitative information about their crypto activities and quantitative information about their crypto exposure. 📊

Additionally, targeted revisions to the crypto-asset prudential standard were also approved. “These revisions are intended to further promote standardized understanding of the criteria for stablecoins to receive specifically ‘Group 1b’ regulatory treatment,” the committee explained. 🎯

So, banks will be more exposed to the crypto world and we will have more information about it. This is a big step for DeFi and Web 3.0! 🚀

So what do you think? I'm waiting for your comments!#DeFi#Web3"