Banks test cryptocurrencies offerings amid regulatory scrutiny

Banks test cryptocurrencies offerings amid regulatory scrutiny

Banks looking to expand into the wild world of crypto are getting a pointed reminder from regulators of the risks involved.

The Basel Committee on Banking Supervision said on June 10 that it is planning to assign Bitcoin, among other crypto products, the toughest capital requirements for any bank that wants to hold it. The standard setter said that the risks to financial stability would be significant if banks expand their offerings in the volatile market.