Total exposure to cryptocurrencies – both to cryptos directly and via derivative exposure – dropped from 61.7% in 2021 to 15.4% in 2022, a report by the BIS showed. The change in banks' crypto exposure was mostly due to fewer banks responding to the BIS survey but also other factors like market conditions and banks reducing their exposure possibly due to the BCBS’ global crypto banking rules, the report said. The sample of banks that got involved went down from 182 banks to 126 banks.
Not only has the crypto market experienced a severe crypto winter propelled by the collapse of large companies including
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UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalizedThe head of the Bank of England’s Prudential Regulatory Authority said in a speech that the agency will propose rules for banks handling of crypto assets this year. Saporta said, “PRA rule making can deliver three things: harness the UK’s strengths as a global financial centre, maintain trust in the UK as a place to do business, and tailor regulations to UK circumstances.” The BOE and PRA are working with six other agencies to create a “regulatory grid setting out our plans in one place,” Saporta said. That new framework will replace the “labyrinth” of regulations currently in force, many of which are European Union (EU) rules... We are here in ETHDenver giving away merch to celebrate; just retweet: 'Pantera Capital launch institutional grade DeFi platform with Instant-Withdraw $ETH staking, leveraging $4.1 billion AUM to show confidence in the Shanghai upgrade' CoinDesk
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