UK watchdog asks firms to share current and future crypto exposures
The Prudential Regulation Authority (PRA) has asked businesses in the UK to disclose current and future crypto exposures by March 2025, in order to assess financial stability and set policy.
The Bank of England’s regulatory division issued the request on Friday, amid a growing number of UK firms embracing crypto. The PRA has also asked firms to explain how they use the Basel framework, which sets standards and minimums for bank capital requirements.
“This will inform work across the PRA and the Bank of England on cryptoassets by helping us calibrate our prudential treatment of cryptoasset exposures, [and] analyze the relative costs and benefits of different policy options,” the PRA said.
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