Archive · 20 Aug 2025
Finance Industry Urges Crypto Rule Overhaul for Banks
Big financial groups want to change the rules about banks and cryptocurrencies.
They're asking the people in charge to wait before they start the new rules.
These rules make banks pay extra money if they have crypto.
The groups think things have changed since the rules were made.
Cryptocurrency is now more common in finance, and big banks like JPMorgan are involved.
They are worried that if some countries don't follow the rules, it could make the market split into different parts.
Financial lobbying groups want to pause new crypto rules for banks.
They're asking regulators to revisit standards due in 2026.
New rules include capital surcharges for banks holding crypto.
The request is based on crypto's growth in finance.
Groups fear inconsistent rule implementation could fragment the market.
- Who
- Major financial lobbying groups.
- What
- Financial lobbying groups seek review of crypto regulations for banks.
- When
- Request made in a Tuesday letter.
- Where
- To the Basel Committee on Banking Supervision.
- Why
- Due to crypto market changes and implementation concerns.
Financial Industry
Basel Committee
Standards for Crypto Assets
Financial Industry
Needs updated information on the use cases for digital assets and appropriate redesign of the standards.
Basel Committee
No comment.
Market Fragmentation
Financial Industry
Concerned about inconsistent implementation which will jeopardize the goal of establishing a minimum standard that enables a level playing field and prevents market fragmentation.
Basel Committee
No comment.
- Groups Involved
- International Institute of Finance, Banking Policy Industry, etc.
- Regulatory Body
- Basel Committee on Banking Supervision
- Proposed Action
- Pause and revisit upcoming crypto standards
- Implementation Date
- 2026
- Current Stance (US)
- Taking a "different look" at crypto standards