Strategy CEO Points Out Basel Regulations Limit Banks' Entry into Cryptocurrencies

On the 20th, Strategy's CEO Von Lee expressed on social media that the Basel Committee's capital requirements for cryptocurrencies are obstructing banks' entry into the sector, calling for a U.S.-specific review. The Basel Committee, composed of central banks and regulatory authorities from 28 countries and regions, counts the U.S. as just one of its members. Lee stated, 'If the U.S. aims to be a global hub for cryptocurrencies, it is crucial to carefully reconsider how Basel regulations are implemented in the U.S.' He argued that instead of adopting international standards as they are, the U.S. should maximize its discretion. He highlighted the '1250% rule' as a significant barrier preventing banks from entering the cryptocurrency space.