Invitation to ACI members to join a new ACI FMA Working group on the new BIS consultation

 Invitation to ACI members to join a new ACI FMA Working group on the new BIS consultation
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ACI FMA

Please read more about the invitation addressed to ACI members to join a ACI FMA Working group on the BIS consultation.

ACI FMA would like to inform that the Crypto Working Group (CWG) will be leading a new members’ panel related to the Public Consultation issued by the Basel Committee, that works under the auspices of the Bank for International Settlements (BIS), on preliminary proposals for the prudential treatment of banks’ cryptoasset exposures.

The aim of this project, to which ACI FMA would like to invite our members to cooperate, is to submit feedback to the proposals on behalf of ACI FMA.

On the press release issued on the 10th of June, the Bank for International Settlements summarily informs that:

  • “Basel Committee issues public consultation on preliminary proposals for the prudential treatment of banks' cryptoasset exposures.
  • The proposals split cryptoassets into two broad groups: those eligible for treatment under the existing Basel Framework with some modifications; and others, such as bitcoin, are subject to a new conservative prudential treatment.
  • The Committee invites submissions on the proposals by 10 September”.
* *Source: Press release: Basel Committee consults on prudential treatment of cryptoasset exposures (bis.org)

For your best information, the Public Consultation document can be found here: https://www.bis.org/bcbs/publ/d519.pdf

We firmly believe that the feedback from our members is extremely relevant and, therefore, following the same procedure adopted previously on other similar occasions, please let us know if you are interested in joining this panel, by contacting us until 2nd July to our Secretariat (secretariat@acifma.com) and thus support ACI FMA’s on the feedback preparation to BIS.

Links to access in detail the above information: https://www.bis.org/press/p210610.htm & https://www.bis.org/bcbs/publ/d519.htm

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