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Bloomberg: The financial industry seeks to reform global cryptocurrency regulatory rules for banks.
On August 20, according to Bloomberg, major global financial lobbying groups are calling on regulators to suspend the upcoming new rules for banks' crypto assets operations and to reevaluate what they consider to be overly stringent measures. In a joint letter to the Basel Committee on Banking Supervision, these industry associations stated that policymakers should "seek the latest information" to understand the use cases of the Distributed Ledger technology that supports digital assets and consider "appropriate redesign and recalibration" of the relevant standards before formally adopting them in 2026.