competitive environment
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Official of the Italian Banking Association: The Basel Cryptocurrency Rules put banks at a disadvantage
It is reported that in an event today, Giovanni Sabatini, Director-General of the Italian Banking Association (ABI), called for a fair competitive environment for the regulation of encrypted assets. He is discussing the final Basel cryptocurrency rules, requiring banks to give 1250% risk weight to cryptocurrency (the second group of cryptocurrency assets). This usually means setting aside one euro of capital for each euro of cryptocurrency exposure. In addition, the Basel rules limit risk exposure to 2% of Tier 1 capital. Interpretation of this information: The Director-General of the Italian…
