Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation – WSJ

The top global standard setter for banking regulation proposed a strict new rule that would require banks to essentially set aside a dollar in reserves for every dollar of bitcoin they own.

The Basel Committee for Banking Supervision, a group of global central bankers and regulators, announced the plan Thursday in a public consultation about how it intends to treat cryptocurrency assets, which it said had prompted concerns about consumer protection, money laundering and terrorist financing.

Source: Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation – WSJ