Banks must disclose crypto asset exposures says Basel Committee

finextra.com:

The international regulatory body has proposed a standardised disclosure table and set of templates for banks' cryptoasset exposures with a proposed implementation date of 1 January 2025.

"Under the proposals, banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements," states the supervisory body.

"Banks would also be required to provide details of the accounting classifications of their exposures to cryptoassets and cryptoliabilities. The Committee expects that a common format for disclosures will support the exercise of market discipline and help to reduce information asymmetry between banks and market participants."

The Committee is calling on stakeholders to comment on the proposals by 31 January 2024.