Singapore Banks Must Hold $125 for Each $100 of Bitcoin – CryptoSlate


Banks in Singapore must hold $125 of capital for every $100 of exposure to crypto-assets such as bitcoin because of their risk, according to a report by CryptoSlate, which noted a written response to Parliament by Senior Minister Tharman Shanmugaratnam said on November 28, who said banks in the island-nation had “insignificant” exposure to crypto.

Shanmugaratnam, the minister overseeing the Monetary Authority of Singapore, said the exposure level to crypto was “less than 0.05% of their total risk-weighted assets”, but the financial regulator required the highest risk weight under the Basel Committee on Banking Supervision framework (of 1250%) for crypto-assets, it said.

Read the full report: CryptoSlate.






Binance Insurance Fund 44% Backed by its Token – CryptoPotato


Binance CEO Calls for Clearer Rules to Stabilise ‘Crazy’ Sector


FTX Hit by ‘Rogue’ $515m Crypto Outflows After Collapse


Crypto Markets Shaken After Binance Abandons FTX Bailout



The post Singapore Banks Must Hold $125 for Each $100 of Bitcoin – CryptoSlate appeared first on Asia Financial.


Business Asia
the authorBusiness Asia

Leave a Reply