According to Odaily Planet Daily, the Basel Committee has released an update to the compliance rules for crypto assets banks. The committee threatens to treat traditional digital securities on public blockchains as having the same risks as cryptocurrencies, which will prevent banks from participating in tokenization plans.
In addition, the two largest proposed changes regarding stablecoins were removed from the final changes. The consultation suggested that all stablecoin reserves must be placed in a bankruptcy remote facility. The committee also considered prohibiting the use of securities financing transactions such as repurchase and reverse repurchase in stablecoin reserves.
