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Tokenization Replaces Sensitive Data with Non-Sensitive Data

Tokenization limits the exposure of sensitive information and makes digital transactions more secure. Recent developments in blockchain systems and decentralized finance create new uses for tokenization, raising legal questions as to how existing regulatory frameworks will apply or adapt. ....

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Understanding Regulatory Trends: Digital Assets & Anti-Money Laundering | King & Spalding

Understanding Regulatory Trends: Digital Assets & Anti-Money Laundering | King & Spalding
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Basel Committee Proposes Risk-Weighted Assets Framework for Cryptoassets

Monday, July 12, 2021
BACKGROUND
On 10 June 2021, the Basel Committee on Banking Supervision (BCBS) published a preliminary proposed framework for the prudential treatment of cryptoasset exposures based on classification cryptoassets (the Proposal).
1 Under the Proposal, banks would be subject to risk-weighted capital and liquidity and on-going monitoring requirements for cryptoassets held on their balance sheets. Specifically, the Proposal seeks to map the regulatory capital requirements for cryptoassets that are redeemable into physical assets to the treatment of those assets and to the exposure to any counterparties whose performance is required to effectuate such redemption. The Proposal would impose larger capital requirements on cryptoassets (such as Bitcoin) that neither represent nor are redeemable into underlying physical assets, as well as funds or other entities that derive their value from such other cryptoassets. Comments are due by 10 Septembe ....

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