FSS chief discusses crypto prudential regulation at Basel

Lee Chan-jin, Governor of South Korea's Financial Supervisory Service (FSS), attended a meeting of the Basel Committee on Banking Supervision's (BCBS) Group of Governors and Heads of Supervision (GHOS), where members agreed to review prudential standards for banks' exposure to virtual assets, Financial News reported. The group also agreed to review the assessment methodology for Global Systemically Important Banks (G-SIBs). This suggests that banks holding virtual assets or offering related services will face stricter capital requirements in the future.