The Trump administration is mounting a direct challenge to global banking rules on crypto assets, signaling the US wants to reshape international financial standards rather than simply comply with them.
A new 166-page White House report on digital assets takes aim at the Basel Committee on Banking Supervision’s crypto framework, particularly its controversial 1250% risk weighting for tokenized assets on public blockchains – rules that effectively block banks from holding US dollar stablecoins.
The administration’s message to global regulators is blunt: “The BCBS does not possess any formal supranational authority, and its decisions do not have legal force… It is…
