by Jake ClaverBIS, Basel, and bank cryptoasset exposure: the rules institutions were waiting for
BIS, Basel, and bank cryptoasset exposure shape the rules institutions operate under. Every part of it traces back to a named, primary source.
The Regulatory Signal
This material is about the licensing and legal environment around the ecosystem. Supporting material comes from the BCBS prudential standard PDF and the BIS 2024 implementation deferral note. BIS/GHOS press release, an announcement from the organizations involved, states it directly:
> 5 SCO60: Cryptoasset exposures Introduction 60.1 This chapter sets out how the Basel Framework is to be applied in respect of banks’ exposures to cryptoassets. Cryptoassets are defined as private digital assets that depend on cryptography and distributed ledger technologies (DLT) or similar technologies. Digital assets are a digital representation of value, which can be used for payment or investment purposes or to access a good or service.
What This Means For Market Infrastructure
What it changes for the broader institutional payments and tokenization stack: clearer rules can reduce uncertainty for builders and institutional users.
One caveat for honest use: Do not imply direct endorsement of XRP/XLM.
From The Source
Receipts For The Regulatory Thread
- BIS/GHOS press release: https://www.bis.org/press/p221216.htm
- BCBS prudential standard PDF: https://www.bis.org/bcbs/publ/d545.pdf
- BIS 2024 implementation deferral note: https://www.bis.org/press/p240513a.htm
