The Group of Central Bank Governors and Heads of Supervision (GHOS), the supervisory body of the Basel Committee on Banking Supervision, has just set a new deadline for the implementation of its prudential standard for the banks’ crypto-asset exposures. The first expected finish date is January 2025, but the deadline has been postponed to January 1, 2026.
Consequently, this modification is designed to give countries enough time to create a clear and unified regulatory framework for crypto asset exposure.
Updated Timeline for Crypto Regulation
The GHOS’s decision to delay the implementation deadline after a thorough evaluation of the progress and readiness of member jurisdictions in adopting the new standards is a great decision. Given the different speeds of crypto regulatory adaptation, this measure aims to achieve a level of competition while making the markets more stable worldwide.
The Basel Committee supported this prudential standard in December 2022. It was meant to address
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