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The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.
June 11, 2021
The Basel Committee on Banking Supervision published a public consultation document with preliminary proposals for the prudential treatment of banks' cryptoasset exposures.
Proposal: The committee of banking regulators proposed separate capital approaches for tokenized traditional assets and for cryptocurrencies like Bitcoin, saying their continued growth could pose risks to capital.
Next: Comments on the Basel proposal are due Sept. 10.
More: ICBA offers community bank primers on central bank digital currency and cryptocurrency. Its Main Street Matters blog features recent posts on CBDC models and the evolution of Bitcoin.