The Basel Committee of the Bank of International Settlements (BIS) has proposed new regulations that would require banks to disclose their exposure to cryptocurrencies. The committee, which serves as a global regulatory platform for banks, aims to establish standardized disclosure guidelines for banks’ crypto asset exposures. The proposed regulations would require banks to provide quantitative data on their crypto asset exposures, as well as qualitative information on their activities related to cryptocurrencies. The committee believes that implementing a uniform disclosure format will promote market discipline and reduce information asymmetry between banks and market participants. The proposal is open for public comment until January 31, 2024, and the results will be published on the BIS website. This move by the BIS reflects its ongoing efforts to address the regulatory aspects of decentralized technologies, including cryptocurrencies.

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Information	Details
Geography	Europe
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	Mt. Gox, European central banks, Basel Committee of the Bank of International Settlements (BIS), BIS website, Ripple
Currencies	None
Securities	None