Sam Woods, Deputy Governor of the Bank of England (BoE), announced that banks entering the crypto money sector may impose capital requirements.
- The Bank of England Deputy Governor told Reuters that the Basel Committee on Banking Supervision (BCBS) proposed a capital requirement for banks. “very reasonable” He said he found it.
- Established within the Bank for International Settlements (BIS), BCBS published a report in June to provide banks that will offer crypto money services to their customers, in order to compensate for possible financial losses. capital requirement suggested.
- The proposal, which is under evaluation, will allow banks to exchange cryptocurrencies such as bitcoin (BTC) if implemented. 100% provisioning may condition.
- Boe Vice President stated that some banks have plans for cryptocurrencies, “We don’t want to stop companies from doing anything that makes sense commercially, but we’re going to be very conservative about the application of capital and […] we can take some measures (at the capital level).” said.
- to cryptocurrencies Both individual and institutional investors showed interest. descriptive name, “We’re going to need to make sure that capital practices are pretty solid if this becomes something big.” said.
Image: Sam Woods (BoE, image modified by Koin Bulletin)
The article titled BoE/Woods: Capital Conditions Can Be Brought to Banks on Crypto Money was prepared by Ömer SAKMAR and published on koinbulteni.com.