Basel Committee Issues Second Consultation on Prudential Framework for Cryptoasset Exposures

On July 11, 2022, Cravath prepared for its clients a memo entitled “Basel Committee Issues Second Consultation on Prudential Framework for Cryptoasset Exposures.” The memo analyzes the Basel Committee on Banking Supervision’s second consultative document, released on June 30, 2022, which outlines the agency’s proposed classifications of different cryptoassets and minimum capital requirements based on various risks. The memo also reviews changes from the agency’s first consultative document based on issues raised in comments and notes how the final standards could be an important step in shaping the cryptoasset regulatory landscape.

Please click here to read the memo.