(Finance) – Le rules international on banks’ management of their exposures to active crypto they will come into force in January 2026, one year later than previously expected. This was decided by a group made up of central bank governors and the head of supervision (GHOS) which refers to the Basel Committee. The decision was motivated by the need to ensure that all members fully implement the new rules. The consultation launched by GHOS itself will continue until the end of this year at the end of which a further review is expected.
The framework of rules aims to preserve the stability financial and promote aresponsible innovation. “The standard, approved by the GHOS in December 2022, provides a robust and prudent global regulatory framework for internationally active banks’ exposures to cryptoassets that preserves financial stability while promoting responsible innovation,” the company said in a statement. Bank for International Settlements.
During the meeting the GHOS took stock of the state of implementation of the reforms Basel III pending, which were finalized in 2017. During the meeting it emerged that “good progress in implementation” has been made: around two thirds of member jurisdictions will have implemented all, or most, of the standards by this year , while the remaining jurisdictions plan to do so within the next year.
GHOS members then unanimously reaffirmed their expectation to implement all aspects of the Basel III framework fully, consistently and as quickly as possible but the series of shock that hit the financial markets in recent years they have convinced the group again of the importance of having a prudent global regulatory framework.
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