WASHINGTON, Aug. 19, 2025 (Reuters/CP) — Major financial industry associations have asked international regulators to postpone new rules that would govern banks’ involvement in crypto assets.
In a joint letter, the Global Financial Markets Association, the Institute of International Finance, and the International Swaps and Derivatives Association urged the Basel Committee on Banking Supervision to delay implementation of the framework scheduled for January 2026.
The groups said the rules, first agreed to in 2022, may no longer reflect current risks or market conditions. The framework requires banks to hold large amounts of capital against holdings of unbacked cryptocurrencies such as Bitcoin, while giving more favourable treatment to tokenized traditional assets and some stablecoins.
Industry representatives argue that a postponement would provide time to reassess the framework. The Basel Committee has not commented on the request.
