NEW: Sen. Sullivan and Sen. Lummis lead letter to the Fed, FDIC and OCC, calling for revaluation of Basel’s risk weighting for Bitcoin and digital assets.
“A 1,250% risk weight bypasses those calibrated frameworks entirely, applying a blunt penalty …to a transparent, globally traded asset with deep derivatives markets, continuous liquidity, and cryptographic auditability.”
This is a strong signal from Washington that legislators are looking closely at this issue as work on market structure continues. The letter has 6 signatories and 3 are on the Banking Committee.
It’s also great to see BPI’s brief on this topic cited in the third footnote! 😉
We’ll keep you posted on further updates.
@_Checkmatey_ My favorite part of the bear is when you get past being “down” so much that you just start laughing at how oversold it is. What a gift we’ve been given. Whole new cohort of whole coiners may emerge.