Regulators Review Crypto Rules as Stablecoin Use Explodes

A major shakeup is coming to the global banking landscape as regulators worldwide re-evaluate rules governing cryptocurrencies, particularly stablecoins. The Basel Committee on Banking Supervision, a key international body setting global financial standards, has announced its plans to reassess the 2022 regulations that imposed hefty capital requirements on banks for holding digital assets. This shift comes as stablecoin transactions are surging dramatically, reaching nearly $9 trillion in 2024, outpacing even PayPal’s annual volume. The increased activity of these digital tokens has led regulators to reconsider their approach.