Singapore plans to postpone implementation of Basel's new crypto asset capital requirements until 2027

10/10 02:00

the Monetary Authority of Singapore has issued a consultation summary, indicating that the implementation of the new bank capital rules based on the Basel Committee on Banking Supervision's standards for regulating crypto assets will be delayed. Singapore originally planned to implement the Basel crypto asset capital rules starting from January 1, 2026, but now plans to postpone it until January 1, 2027, or later, while requiring banks that already hold crypto asset exposure or intend to hold crypto asset exposure to inform the Monetary Authority of Singapore of the appropriate prudent handling of their crypto asset exposure before the new rules are finally implemented and to maintain communication. It is reported that the Basel crypto asset capital rules are very important for banks in jurisdictions planning to adopt the rules, as they specify how much regulatory capital banks must hold for their crypto asset exposure.
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