- The Basel Committee’s oversight body endorses a global prudential standard for banks’ exposures to cryptoassets, for implementation by 1 January 2025.
- Endorses the Committee’s work programme and strategic priorities for 2023–24.
- The programme prioritises work on emerging risks and vulnerabilities, digitalisation, climate-related financial risks and Basel III implementation.
Read full story here.
Related Reading:
- 1st Quarter 2022 Wrap Up: – Introduction – Does the BIS Owe Us $21 Trillion (Or Owe You $65,000)?
- Special Report: The Iron Bank: Is BIS Sovereign Immunity the Secret Sauce Behind the Global Coup? Part I with Patrick Wood
- Special Report: The Iron Bank: Is BIS Sovereign Immunity the Secret Sauce Behind the Global Coup? Part II with Patrick Wood
- Book Review: Tower of Basel: The Shadowy History of the Secret Bank that Runs the World by Adam Lebor
- FASB addresses crypto asset presentation and disclosure
- National Strategy to Develop Distributed Ledger Technology for Digital ID Tucked into 2023 Defense Budget
https://www.bis.org/bcbs/publ/d545.htm
Tsunami of money finances an endless tsunamic of new rules
Two days earlier, https://frv.kpmg.us/reference-library/2022/fasb-takes-on-accounting-for-digital-assets.html
On December 14, 2022, the FASB decided how crypto assets should be presented in the financial statements and what disclosures should be required … The Board reached the following decisions about the measurement of in-scope crypto assets:
• They should be measured at fair value, with fair value changes recorded in current period earnings (see “Presentation” below).
• Not to require or permit an alternative measurement, such as historical cost less impairment, for crypto assets not traded in an active market …
• That the above measurement decisions should not differ between public and private entities.
Good one. Thanks, Rich. Will post.
Tried to share a link to the BIS press release on ZeroHedge, and their moderators censored it away and refused to allow it to be seen. Wonder why ZeroHedge would censor this information?
Yes, I have had the kind of experience with Zero Hedge as well.
ZeroHedge manipulation is kind of obvious these days- all twitter links all the time plus non-stop “Elon Musk is your savior” “news”. I go over to Joseph Farrell’s Giza Death Star page for my daily news now. If Joseph himself isn’t posting that day, his members do a pretty good job with news links and commentary. Children’s Health Defense is really good too. (that Solari report is excellent of course goes without saying). ZeroHedge just seems like it’s over. Done. Waste of time.