Biggest U. And European Banks Oppose Basel's New Strict Bitcoin Rules.
27 Sep 2021, 08:00
Biggest U.S. And European Banks Oppose Basel’s New Strict Bitcoin Rules
JPMorgan, Deutsche Bank, and other world-leading banks have opposed new banking regulations that would force them to match one dollar in capital for every dollar of bitcoin they hold.
Banks are traditionally required by Basel rules to assign risk weightings to different kinds of assets they own. The resulting outcome, in turn, determines the overall capital requirements for each bank.
According to the rules, the risk weightings could range from 0% for very low-risk assets such as a tokenized sovereign bond to 1250% for extremely risky assets.