Basel chair stands by tough capital rules for crypto assets
Isda AGM: Hernandez de Cos is unmoved by arguments that high risk weights will push banks out of crypto
The chair of the Basel Committee on Banking Supervision is standing by the standard-setter’s tough stance on bank capital requirements for crypto assets, which was set out in a consultation paper released last June.
“As a general principle, we know from the history of financial crises that rapid growth in largely unregulated asset classes requires proactive actions by authorities,” said Pablo Hernandez de Cos, adding: “Cryptoassets clearly fit this description.”
Hernandez de Cos was speaking
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