Bloomberg: Stablecoin Boom Forces Global Banks to Reassess Crypto Rules

October 31 — According to Bloomberg, international financial regulators are reexamining upcoming rules governing how banks manage their cryptocurrency holdings. The regulations, initially expected to take effect next year, are now under review following the rapid surge in stablecoin activity, which has triggered concern among policymakers—particularly in the United States.

Basel Standards Under Pressure

The Basel Committee on Banking Supervision had proposed a framework to be introduced by the end of 2022, setting stringent capital requirements for banks that hold digital assets. Financial executives told Bloomberg that these standards effectively discouraged banks from engaging with cryptocurrencies, as the cost of compliance would have been prohibitively high.

Coordinated Global Revisions on the Table

Insiders familiar with the matter said that key jurisdictions, including the U.S., the U.K., and the European Union, have not committed to rolling out the original framework as planned. Instead, regulators are leaning toward a global reassessment of the rules to ensure consistency and practicality before enforcing them across major markets.

Balancing Innovation and Risk

The growing dominance of stablecoins has intensified the debate over how traditional financial institutions should interact with digital assets. While regulators seek to preserve financial stability, they also face increasing pressure to craft rules that do not stifle innovation or leave major banks unprepared for the ongoing evolution of the crypto economy.