UK to Propose New Crypto Asset Regulations for Banks by 2026

According to Odaily, David Bailey, the Executive Director of Prudential Policy at the Bank of England, announced that the UK intends to introduce new restrictive regulations on banks holding crypto assets by 2026. This move aims to mitigate financial stability risks. The proposed regulations will draw on the disclosure framework developed by the Basel Committee, which recommends that banks limit their exposure to cryptocurrencies like Bitcoin to less than 1%.