Global banking regulators on Tuesday proposed a standardised format for major banks todisclose their holdings of cryptoassets from January 2025 to support "market discipline" bygiving a complete picture to investors

The Basel Commitee of banking regulators from the world's main financial centres agreed newrules last December on how much capital banks should hold to cover different types ofcryptoassets. On Tuesday, they set out for public consultation how the holdings shouldbe disclosed to investors.

"Under the proposals, banks would be required to disclose qualitative information on theiractivities related to cryptoassets and quantitative information on exposures to cryptoassets andthe related capital and liquidity requirements," the Basel Committee said in a statement.

Banks would also be required to provide details of the accounting classifications of theirexposures to cryptoassets and crypto liabilities, it said

The public consultation ends on Jan. 31, 2024.

(Source: Reuters)