BlockBeats news, on August 20, according to Bloomberg, major global financial lobbying groups are urging regulators to pause the upcoming new regulations for banks' cryptocurrency businesses and to reassess what they see as overly stringent measures.
In a joint letter to the Basel Committee on Banking Supervision, these industry associations stated that policymakers should 'seek the latest information' to understand the application cases of distributed ledger technology underpinning digital assets and consider 'appropriate redesign and recalibration' of relevant standards before their formal adoption in 2026.