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.
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