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Big Banks Oppose Strict Basel Rules Targeting Bitcoin Cryptocurrencies

Three months after international banking regulators proposed strict new guidelines for conventional monetary establishments searching for bitcoin publicity, JPMorgan, Deutsche Bank, and different banking giants opposed what would require them to put aside one greenback in capital for every greenback of BTC they personal.

The strict guidelines have been proposed in June by the Basel Committee for Banking Supervision, a bunch of regulators from the world’s most outstanding monetary facilities. However, the Global Financial Markets Association, a discussion board for banks that features JPMorgan and Deutsche Bank, revealed along with 5 different trade associations a letter on Tuesday that pushed in opposition to the brand new regulation, The Wall Street Journal reported.

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