European Commission consults with Member States’ experts prospective implementation of Basel rules on crypto-asset exposures
March 01, 2023
On 16 February 2023, the European Commission (“the Commission”) hosted a meeting of the Expert Group on Banking, Payments and Insurance (EGBPI), where it discussed with Member States’ experts the potential way forward for the implementation in the European Union (EU) law of the December 2022 Basel Committee on Banking Supervision (BCBS) standards on prudential treatment of crypto-asset exposures. By way of background, the BCBS members agreed to implement the standards in their respective jurisdictions by 1 January 2025.