Punitive Crypto Rules

A global banking regulator will review its strict proposal for crypto regulation after pushback from central banks. Basel Committee on Banking Supervision said it would revisit its proposal on capital requirements for crypto. The current proposal treated crypto as one of the riskiest asset classes. As a result, significant banks opposed the regulation to limit their involvement in crypto. Due to the backlash, the Basel Committee went back to the drawing board. The regulator restated its commitment to a "conservative"…