Banking Giants Push Back Against Restrictive Crypto Rules, Urging a Temporary Pause

Major financial institutions are urging global banking regulators to reconsider the stringent cryptocurrency standards set to take effect in January 2026. These groups argue that the evolving market conditions since 2022 make the proposed Basel Committee rules economically impractical for banks seeking to participate in the crypto space. They’re calling for a temporary pause before implementation, allowing time to reassess regulations.