Cards & Payments News Digests

Global: Bitcoin prompts decisive actions around the world, with strict capital rules likely Spurred on by the recent bout of bitcoin mania, the Basel Committee on Banking Supervision is forming the view that tough capital rules should be put in place for any banks exposed to cryptocurrencies that lack an underlying asset. A public consultation paper from the global banking regulator this week recommends a risk weighting of 1,250 percent: such "conservative prudential treatment" would mean banks having to hold onto enough capital to fully absorb a complete write-off if necessary, a dealbreaker... Read more >