The Basel Committee on Banking Supervision international body that regulates the banking sector is expected to review its crypto regulatory framework following contributions from trade associations.
One of the changes should be in the rules imposed on banks which can reserve capital to cover possible losses with cryptocurrencies change comes after a request from the sector itself, Which asked the Committee to reevaluate the standard as they see cryptos as highly risky.
According to the Committee, the change is justified because the increased interest of some banks in cryptocurrencies would bring concerns about global financial stability.
This week, Orogen Group Chairman and former Citigroup CEO Vikram Pandit said he believes all major financial institutions will consider trading in cryptocurrencies within one to three years.
The crypto active sector is also gaining strength in the energy sector. In line with the topics discussed at COP26, the Bitcoin Market announced yesterday that it will sell tokens backed by renewable energy sources.
In a note, the brokerage states that the project will start with two tokens to be launched in January 2022 that will offer income from the distributed generation of solar energy. Next, another asset offered for sale will be backed by a certificate that records the consumption of electricity from renewable sources.
The company joins Light DeFi, an initiative launched three months ago that uses decentralized finance (DeFi) to finance renewable energy generation projects. The values raised with more than 20,000 users will now be used to purchase a 17-hectare plot of land in Ceará for the construction of a photovoltaic plant.