Bloomberg: Finance Industry Seeks Reform of Global Cryptocurrency Regulation for Banks

BlockBeats News, August 20th, according to Bloomberg, major global financial lobbying groups have urged regulatory agencies to pause the implementation of the upcoming bank cryptocurrency business new rule and reconsider its perceived overly strict measures.

In a joint letter to the Basel Banking Supervision Committee, these industry associations stated that policymakers should "seek up-to-date information" to understand use cases for the distributed ledger technology underpinning digital assets and consider "appropriate redesign and recalibration of relevant standards" before formal adoption in 2026.