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Basel Committee’s Crypto Crackdown: Banks Should Disclose Digital Asset Holdings

The Basel Committee on Banking Supervision, in an effort to increase transparency and oversight in the banking sector, wants banks to disclose their crypto asset holdings. What Happened: The committee made the decision during the recent meeting, which took place on Oct. 4 and Oct. 5 in Basel. In addition, various risks and policy initiatives were addressed, including vulnerabilities in light of recent economic shifts. The proposal to disclose crypto holdings comes at a pivotal time as the world of digital assets continues to evolve rapidly. Also Read: Bitcoin To $20K, Ethereum To $1K? Prominent