UK Unveils Basel III Draft; Cryptoasset Standard Heralds More Rule-Making

UK Unveils Basel III Draft; Cryptoasset Standard Heralds More Rule-Making

From fitchratings.com

The UK’s draft final Basel III rules align more closely to international standards than the EU proposal, while the new global cryptoasset framework will kick-start a new round of national rule-making, Fitch Ratings says its 4Q22 report on banking regulatory developments. In its end-November Consultation Paper, the UK Prudential Regulation Authority proposes to align draft rules more closely to the global standard than the EU has proposed, albeit from 1 January 2025, in line with the EU. Most Basel Committee members have delayed the go-live date of the new regime to 2024 or later, and the US has yet to issue its ... (full story)

- Older Stories
El Salvador Makes Good on $800M Debt Despite ‘Bitcoin Bet’
From blockworks.co|Jan 24, 2023
El Salvador’s President, Nayib Bukele, said Monday his country has paid back $800 million on an external bond despite concerns last year the country would default due to its ...
Monitoring the Currents of the Crypto Market
From coinmetrics.substack.com|Jan 24, 2023
The digital asset market is experiencing a surge in activity as we kick off the new year. Bitcoin is up 36% in January rising to $22,500, its highest level since last summer. This ...
Bitcoin Breakout Has Opened Doors to $25K: Analysts
From coindesk.com|Jan 24, 2023
Bitcoin's (BTC) January price rally has analysts focusing on higher valuations last seen in mid-2022. The top cryptocurrency by market value has risen almost 40% to $23,000 this ...

- Newer Stories
Powell may need to rein markets in at FOMC meeting
From omfif.org|Jan 24, 2023|9 comments
With a plethora of improved inflation data and softening real indicators, markets are scaling back expectations about the US Federal Reserve’s rate path and betting the Fed will ...
After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin
From bitcoinmagazine.com|Jan 24, 2023
Earlier this month, reports surfaced that the Central Bank of Iran is working with the Russian Association Of The Crypto Industry And Blockchain to create a stablecoin that will ...
How Japan handles crypto exchanges differently
From axios.com|Jan 24, 2023
Japan's crypto exchanges have different rules than exchanges in other parts of the world. Why it matters: FTX Japan, by all reports, didn't come up short on customer funds, and ...

Related Stories