World Bank Low: Closed consultation on amendments to the cryptoasset standard

On 28 March 2024, the Basel Committee on Banking Supervision closed its public consultation on the proposed amendments to the cryptoasset standard. The objective of this consultation is to refine the prudential treatment of banks' exposures to cryptoassets. This consultative document introduces changes to the classification and treatment of stablecoins and technical amendments for a consistent understanding of the standard. The proposals include adjustments to the requirements for stablecoins' reserve assets and the introduction of statistical tests for assessing the stability of stablecoins. Furthermore, the document addresses the risks associated with permissionless blockchains and their current exclusion from Group 1 classification.