Senators: Press Regulators on Bank Crypto Capital Rules

Senators Hagerty, Sullivan, Lummis, Moreno, Husted and Budd sent regulators a letter demanding a U.S.-specific capital framework for bank crypto holdings that replaces the Basel Committee 2022 crypto capital framework 1,250% risk weight, which they say has acted as a de facto ban. The lawmakers cite March tokenized-asset guidance and insist the same tech-neutral treatment must extend to Bitcoin and other digital assets, aligning rules with the pending US bank crypto capital requirements Clarity Act now before Congress while global supervisors revisit Basel standards.