Switzerland In a move towards greater transparency and market accountability, the Banking Supervision Committee cryptocurrency The unit published draft guidance requiring them to disclose both quantitative and qualitative details about their activities.
Swiss Banking Committee Advocates Comprehensive Disclosure of Banks’ Crypto Involvement
These new guidelines are an additional measure taken by the committee to increase existing capital requirements.
The aim is to deter banks without adequate support, especially in light of the recent challenges faced by crypto-related lenders such as Signature Bank and Silicon Valley Bank. Bitcoin (BTC) And Ethereum (ETH) It is to discourage holding cryptocurrencies such as.
The proposed regulations, scheduled to go into effect in 2025, require “banks to disclose qualitative information about their activities related to cryptoassets and quantitative information about their exposure to cryptoassets and related capital and liquidity requirements,” as stated by the committee.
This organization is closely linked to the Bank for International Settlements, a consortium of central banks headquartered in Basel, Switzerland.
“A common format for disclosures would support the enforcement of market discipline and help reduce information asymmetry between banks and market participants,” the committee also said.
This move is set to bring a more balanced and well-informed landscape in the field of cryptocurrency activities in the banking sector.
*This is not investment advice.
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