ChainCatcher news, according to Ledgerinsights, the Basel Committee has released an update to the compliance rules for crypto asset banks. In the latest consultation, the committee threatened to treat traditional digital securities on public blockchains as having the same risks as cryptocurrencies. This will prevent banks from participating in tokenization programs on public blockchains because their costs are too high.

In addition, the two largest proposed changes regarding stablecoins were deleted in the final changes. The consultation suggested that all stablecoin reserves must be placed in a bankruptcy remote tool. It is worth mentioning that the Basel Committee is also considering prohibiting the use of securities financing transactions such as repurchases and reverse repurchases in stablecoin reserves.