Don’t Penalize Crypto in Banking Rules, Futures Industry Group Says

An original June 2021 plan from the Basel Committee, which told banks to issue $1 in capital for each $1 of crypto they hold, drew a volley of criticism for being too conservative, effectively ruling out any incentive to get into crypto markets. A later iteration, published one year later, gave some ground to crypto fans by recognizing the impact of hedging, but also imposed a cap on total exposure to unbacked crypto assets like bitcoin.