TOKYO -- For the first time ever, banks will be required to follow international regulations regarding the ownership of cryptocurrencies to better safeguard the industry against the volatile assets.
Cryptocurrencies
Banks face first global cryptocurrency rules in wake of FTX collapse
Basel Committee set to require that crypto holdings be backed by capital
Banks will be required to set aside traditional capital equivalent to the value of cryptocurrency holdings under upcoming rules from the Basel Committee on Banking Supervision. © Reuters
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