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Tuesday

22 June 2021

Financial Regulators Propose a Rule that Could Shatter Bank’s Interest in Crypto

Financial Regulators Propose a Rule that Could Shatter Bank’s Interest in Crypto


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The financial situation for Banks that have their eye on crypto may have just taken a sharp turn, as the Swiss financial committee says banks should set aside money to protect investors from losses incurred in cryptocurrency holdings.

The Swiss-based committee acknowledges that Banks have limited exposure to digital currencies, but they suggest their growing population could raise financial risks beyond containment.

The group of financial regulators proposes banks should weigh risks and enact capital requirements for holding cryptocurrencies.

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