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

Pablo Hernández de Cos
Photo: Banco de España

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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