The Basel Committee on Banking Supervision has published a statement on crypto-assets.
The Committee acknowledges that while the crypto-asset market remains small relative to that of the global financial system, and banks currently have very limited direct exposures, the continued growth of crypto-asset trading platforms and new financial products related to crypto-assets has the potential to raise financial stability concerns and increase risks faced by banks.
Should a bank decide to acquire crypto-asset exposures or provide related services, the Committee expects such banks to adopt the following at a minimum:
- before acquiring exposures to crypto-assets or providing related services, a bank should conduct comprehensive analyses of the risks associated with crypto-assets;
- banks should have a clear and robust risk management framework;
- banks should publicly disclose any material crypto-asset exposures or related services as part of its regular financial disclosures; and
- banks should inform its supervisory authority of actual and planned crypto-asset exposure or activity in a timely manner.