🌍 Global Banking Update 🌍
The Basel Committee, comprising central bank and banking supervisor representatives from major developed countries (G10), has proposed enhanced transparency measures regarding cryptocurrency:
Disclosure Requirements: Starting January 2025, significant banks will be mandated to reveal their cryptocurrency asset involvement.
Details: These disclosures encompass quantitative data about liquidity demands and qualitative details concerning cryptocurrency operations. Clarifications related to cryptocurrency debt exposure accounting are also expected.
Public Consultation: A dialogue has been initiated to determine the manner of banks' crypto asset disclosures to investors. This consultation period is slated to end by January's close next year.
Remember, transparency and regulation can strengthen the trustworthiness of the crypto sector!
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