Ren DAO to Vote on Plan to Mint New Funding Tokens
2022-12-16
Central Bank of Kazakhstan Plans to Launch CBDC Between 2023 and 2025
2022-12-19

Basel Committee to Enforce Standard on Banks’ Exposure to Crypto in 2025

Join the Trading Community: Learn & Earn with BingX.

Today’s Cryptocurrency Headline

The Basel Committee on Banking Supervision (BCBS) has approved its global crypto banking rules, which will come into force on January 1, 2025, according to a statement Friday. The BCBS, the main global standard-setter for prudential regulation of banks, recommends that banks should have no more than 2% exposure to certain crypto assets, and usually less than 1%. These particular assets are tokenized traditional assets including non-fungible tokens, stablecoins and unbacked crypto assets that don’t meet classification conditions. 

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 4.15% over the last 24 hours and fell to an intraday low of $16,528.49. The largest cryptocurrency turned down and broke below the 20-day EMA of $17,095 on Thursday, suggesting that the sentiment turned negative and the bears were selling the relief rallies. The 20-day EMA has started to turn down and the RSI has dipped below 43, indicating that bears are in command. If the price sustains below the 20-day EMA ($17,095), it could decline to $16,000.

Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.