In this regular update, we round-up FinTech-related financial services regulatory developments for the week ending 16 December 2022.
ICYMI
Recent updates from Herbert Smith Freehills include:
Global
| BCBS: Standard on prudential treatment of cryptoasset exposures The BCBS has published a Standard on prudential treatment of cryptoasset exposures. The Standard provides a global regulatory framework for internationally active banks’ exposures to cryptoassets that promotes responsible innovation while preserving financial stability. The Standard sets out the prudential treatment of banks’ exposures to cryptoassets, including tokenised traditional assets, stablecoins and unbacked cryptoassets. The standard is to be implemented by 1 January 2025, and the BCBS will monitor the implementation and effects of the Standard. [16 Dec 2022] #Cryptoassets | |
| BCBS: Work programme and strategic priorities for 2023/24 The BCBS has published its work programme and strategic priorities for 2023/24. The work programme takes a forward-looking approach to identifying and assessing emerging risks and vulnerabilities to the global banking system, it also prioritises work related to the… |
