Bloomberg: The financial industry calls for a comprehensive reform of global cryptocurrency regulatory rules for banks

ChainCatcher news, according to Bloomberg, major global financial lobbying groups are calling on regulators to suspend the upcoming new regulations for banks' cryptocurrency businesses and to reassess what they consider 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 distributed ledger technology that underpins digital assets and consider "appropriate redesign and recalibration" of the relevant standards before their formal adoption in 2026.