The Basel Committee discussed the disclosure of crypto assets by banks on July 2-3. This is part of the Basel III reforms aimed at strengthening the resilience of EU banks. Proposed in December 2022, the cryptoasset disclosure system has been open for comment since May 2023. 🏦

The new standards will be published in July. The Committee has been considering the issue of banks’ crypto assets since 2019. In 2021, it was proposed to include cryptocurrency in the group of high-risk assets with a risk of 1250%.

Stablecoins received a new designation 1b, which does not impose requirements on bank assets. However, stablecoins with “ineffective stabilization mechanisms” were included in group 2.

In December, the committee proposed introducing a maximum maturity for banks' reserve assets and on-lending stablecoins to compensate for the possible deviation.

In addition to the new Basel standards, stablecoin issuers must comply with the new MiCA regulations. Changes to the current Basel III standards will come into force on January 1, 2026.