Basel Committee Revises Crypto Rules as Stablecoins Gain Traction

The Basel Committee on Banking Supervision is reconsidering its stance on crypto assets, driven by a surge in regulated stablecoins and pressure from global banks. Previously, the committee imposed strict capital requirements for banks holding crypto, treating unbacked tokens like Bitcoin as risky. However, the rapid rise of fiat-backed stablecoins such as USDC has prompted the committee to re-evaluate its framework. This shift comes as financial institutions urge regulators to create more flexible and realistic guidelines for digital assets. }