Wu said that he learned that the Bank for International Settlements (BIS) has approved the proposed regulations on banks' disclosure of cryptocurrency risk exposure. The Basel Committee on Banking Supervision (Basel Committee) under the Bank for International Settlements approved amendments to the "Bank Virtual Asset Risk Disclosure Regulations" and the "Virtual Asset Soundness Regulations" at meetings held on the 2nd and 3rd of this month. This will require banks to disclose information on their risk exposure to virtual assets, including trading activities and holdings. Previously, the Basel Committee began to develop proposed regulations in December 2022, with the aim of establishing standards for risk assessment of virtual assets and providing sufficient information. The finalized regulations will apply from 2026.
