LONDON (Reuters) – Global banking regulators on Tuesday proposed a standardized format for major banks to disclose their holdings of crypto assets from January 2025 to support “market discipline” by giving a complete picture to investors.
The Basel Committee of banking regulators from the world’s main financial centers agreed new rules last December on how much capital banks should hold to cover different types of crypto assets. On Tuesday, they set out for public consultation how the holdings should be disclosed to investors.
“Under the proposals, banks would be required to disclose qualitative information on their activities related to crypto assets and quantitative information on exposures to crypto assets and the 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 their exposures to crypto assets and crypto liabilities, it said.
The public consultation ends on Jan. 31, 2024.
(Reporting by Huw Jones; Editing by Kirsten Donovan and Emelia Sithole-Matarise)