BIS Outlines New Rules for Banks Holding XRP and Similar Assets
BIS Sets New Guidelines for Banks with crypto Assets In an intriguing development, the Bank for International Settlements (BIS) has unveiled its latest set of regulations, focused squarely on banks that maintain holdings in certain categories of cryptocurrencies, known collectively as Group 2 assets This diverse category, which encompasses some of the most talked-about names in the crypto space, represents a significant shift in how financial regulators are approaching the burgeoning world of digital assets Understanding Group 2 crypto Assets At the heart of this development lies the classification of Group 2 assets This category includes widely recognized cryptocurrencies like XRP, bitcoin (BTC), and ethereum (ETH), along with certain stablecoins that may not have robust stability mechanisms in place Recognizing the inherent volatility and risk associated with these assets, the BIS has taken a proactive stance in outlining specific requirements for banks looking to include them in their portfolios...
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