International regulators are discussing possible easing of rules for crypto assets in the banking sector. The reason is the growing popularity of stablecoins and the response from the US, which is demanding a review of existing standards. The updated requirements are planned to be introduced as early as next year.
The standards were originally developed by the Basel Committee on Banking Supervision — this happened back at the end of 2022. According to sources in financial circles, banks saw these rules as an obstacle to working with crypto: the capital requirements made such assets too expensive.
But since then, the perception of the industry has changed a lot. What used to be called the ‘Wild West’ of finance in the US has now received approval even from the White House.
The crypto community doubts the relevance of current standards
The change in attitude towards cryptocurrencies has again stirred up the Basel Committee. There, they are discussing how appropriate the old banking rules are in the world of digital assets. At the same time, according to insiders, giants like the US, UK, and the EU are in no hurry to implement new standards within the set deadlines.
Interestingly, it was the Americans who spoke out first. Sources say that the US proposed to reconsider the approach, since the current rules allegedly can’t keep up with the rapidly developing industry, especially when it comes to stablecoins.
This initiative coincided with an important moment: the US passed the GENIUS Act, which marked the start of official stablecoin regulation. It has already become a push for crypto to get a bit closer to the status of a full-fledged payment instrument.
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But in Basel, they still insist on strict measures, even for unrestricted stablecoins like USDT and USDC. They operate on open blockchains, which, according to regulators, means increased risks.
According to current requirements, banks must reserve capital at the level of 1250% of the amount held in such assets. This is one of the highest ratios; even venture investments in the new package are rated at 400%.
As a result, a number of countries have already hinted that they support the US position and want to revise the standards before their official implementation.
At the ECB, however, the approach is different: they propose to first introduce the current rules and only then consider their correction. Neither representatives of the committee itself, nor the Fed, nor the ECB commented on the situation.
Banks demand unified rules for crypto
The EU has already adopted a package of laws that sets out the regulatory framework for working with cryptocurrencies. According to the document, stablecoins may receive the same capital requirements as the assets backing them.
Usually, such tokens hold reserves in the form of cash and short-term US bonds — this allows them to maintain price stability. In the UK, the Bank of England is preparing to introduce its own rules for stablecoins this month. At the same time, work is underway on a broader regulatory framework for cryptocurrencies: the central bank is consulting with other countries.
In Singapore, on the contrary, the deadlines have been pushed back — regulators gave themselves another year to comply with global standards. In Hong Kong, new rules are planned for 2026, but relaxations for licensed stablecoins are already being discussed.
