The Basel Committee on Banking Supervision believes that financial regulators should reconsider their policies towards the cryptocurrency market.
Credit institutions in the traditional market should be allowed to work with digital assets. If governments limit the banking sector’s ability to do this, innovation and fintech development will slow down.
A relaxed stance by central banks and other supervisors would encourage credit institutions to penetrate the cryptosphere more deeply, according to a Basel Committee report. It also believes that banks should decide for themselves whether to offer digital currency-oriented products to customers.