{"id":133372,"date":"2024-07-18T10:50:22","date_gmt":"2024-07-18T07:50:22","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133372"},"modified":"2024-07-18T10:48:30","modified_gmt":"2024-07-18T07:48:30","slug":"bank-of-international-settlements-tightens-rules-on-stablecoins","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bank-of-international-settlements-tightens-rules-on-stablecoins\/","title":{"rendered":"Bank of International Settlements Tightens Rules on Stablecoins"},"content":{"rendered":"
On July 17, the Basel Committee on Banking Supervision released a report<\/a><\/strong> detailing new requirements for banks\u2019 crypto-asset exposures. Banks must now provide extensive disclosures about their crypto activities and meet strict liquidity standards.<\/p>\n The BIS has tightened the criteria for stablecoins eligible for favorable \u201cGroup 1b\u201d regulatory treatment, likely imposing stricter controls on USDT<\/a><\/strong> and USDC<\/a><\/strong>.<\/p>\n This development coincides with the Hong Kong Monetary Authority\u2019s release of consultation papers on a stablecoin licensing regime. Industry leaders have expressed concerns, with Custodia Bank CEO Caitlin Long criticizing the BIS for excluding public blockchain stablecoins and favoring permissioned ones. She suggested that the US might not follow these new guidelines.<\/p>\n