Wide use of cryptocurrency in the banking sector may prevent new rules that proposes to introduce the Basel Committee on Banking Supervision, writes Reuters.
This organization that establishes uniform standards in regulating the activities of financial institutions in different countries, wants to introduce new banking capital requirements, which assume full coverage of losses on any assets in Bitcoins.
This is the first special requirement of the Basel Committee regarding this new for the financial world of the phenomenon. The organization stated that the share of cryptocurrency in bank assets is still limited, but if not to introduce new capital requirements, its growth may jeopardize world financial stability – due to possible fraudulent actions, cyberak, money laundering and terrorist financing.
Now the cumulative value cryptocurrency reaches about 1.6 trillion all over the world, which is still a small percentage of common other assets of banks.
In June, Bitcoin received the status of a legal means of payment in El Salvador, who became the first country that went to such a step.
However, in recent months, the currency is faced with great volatility, partly associated with the skeptical rhetoric of the authorities of different countries. In particular, China.
went to serious tightening measures
Peking Politically provided a negative impact on Bitcoin’s course. June 8 additionally collapsed these currency and news from the United States: there the authorities managed to return a part of the repurchase in Bitcoins, who paid the hackers in the US largest operator of COLONIAL PIPELINE fuel pipelines.