GE DK Regulation of Crypto-assets

On Sep. 14, GE DK issued statement on Basel regulatory proposals.

  • GE DK, GE BdB issued statement in response to consultations of Basel committee on banking supervision on prudential treatment of crypto-assets, see #107701, #107556.
  • Summary
  • A uniform global framework for the regulatory handling of crypto-assets is required.
  • Framework must apply equally to banks and non-banks; key points are regulatory clarity as well as a consistent taxonomy and standardization of crypto-assets.
  • Primary objective to ensure financial stability but any legal framework should not be too restrictive, so banks have opportunity to gain experience with this asset class.

Regulators GE BdB; GE DK
Entity Types B/D; Bank; BHC; Corp
Reference PR, 9/14/2021
Functions AML; Compliance; Financial; Fraud; Legal; Reporting; Risk; Settlement; Technology; Treasury
Countries Germany
Products Banking; Corporate; Cryptocurrency; Payments; Securities
Regions EMEA
Rule Type Guidance
Rule Date 9/14/2021
Effective Date 9/14/2021
Rule Id 115745
Linked to Rule :107701
Reg. Last Update 9/14/2021
Report Section EU

Last substantive update on 09/20/2021