The US is reportedly pushing global regulators to amend bank crypto standards to better reflect the regulatory shifts of recent years and the industry’s developments, including the growing push for stablecoin adoption.

**Global Regulators to Review Crypto Standards**

On Friday, Bloomberg reported that global regulators are in talks to review and potentially overhaul rules on banks’ crypto holdings, which are set to come into force in 2026. The US is reportedly leading the pushback against the original measures following the rapid surge of the stablecoin sector.

In 2022, the Basel Committee on Banking Supervision (BCBS) released its standard for the “prudential treatment of banks’ exposures to cryptoassets,” covering tokenized traditional assets, stablecoins, and unbacked digital assets. Senior finance executives reportedly noted that banks have largely interpreted these standards as a signal to avoid crypto due to the heavy capital burdens imposed on such holdings.

However, the crypto industry’s adoption has evolved significantly over the past few years, with key players like the US shifting their regulatory stance to embrace the sector. According to sources familiar with the discussions, this shift has sparked debates within the BCBS about whether the current rules remain suitable given the present environment. Notably, major global jurisdictions—including the US and UK—have yet to commit to implementing these standards on schedule.

Bloomberg also noted that the Basel Committee updated its crypto standards in 2024 but delayed their implementation by one year. As a result, the US appears to be leading calls for amendments, arguing that the rules are “incompatible with the industry’s evolution,” especially within the stablecoin sector. Several countries reportedly align with the US perspective and favor reviewing the standards before their wide implementation.

The Bank of England (BoE) has stated that it “continues to work on the implementation of its prudential framework for cryptoasset exposures, and is engaging internationally with other jurisdictions to promote regulatory consistency.” Meanwhile, the Monetary Authority of Singapore (MAS) recently announced a one-year delay for its new crypto prudential standards, which are based on the BCBS’s measures.

In contrast, the European Central Bank (ECB) believes it is best to implement the current standards first and explore revisions at a later stage.

**Global Stablecoin Regulatory Landscape**

Stablecoin regulation faces ongoing challenges despite the global push for adoption. The ECB has called for a ban on multi-issuer stablecoins within the European bloc and other jurisdictions, following a recommendation by the European Systemic Risk Board (ESRB).

In the US, the banking industry has pushed back against the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, citing potential loopholes that could pose significant risks to the financial system.

Meanwhile, the Financial Stability Board (FSB)—an international body overseeing the global financial system—recently pledged to address emerging threats from private finance and the growing use of stablecoins.

In June, the Financial Action Task Force (FATF) expressed concerns about increasing risks tied to stablecoin adoption, highlighting the challenge of criminal parties exploiting digital assets to threaten global financial security.

As reported by Bitcoinist, BoE Governor and FSB Chairman Andrew Bailey pledged earlier this month to enhance the global watchdog’s policy response to emerging risks related to private finance and stablecoins. He emphasized the need to make the response “more flexible and quicker to recognise, and respond to, emerging vulnerabilities.”

Bailey affirmed that the international watchdog will hold “open and frank discussions among members” to determine next steps and plans to “increase outreach to the private sector to benefit from their expertise and perspectives on risks and vulnerabilities.”

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*Bitcoin (BTC) currently trades at $110,179, according to the one-week chart from TradingView.com.*
https://bitcoinist.com/global-regulators-to-review-bank-crypto-standards/