PANews reported on October 31st, citing Bloomberg, that the Basel Committee, the global banking regulator, is reassessing capital rules for banks' crypto assets due to the accelerated development of stablecoins. The US advocates for revisions, arguing that the current standards impose the same 1250% risk weight on "permissionless" stablecoins like USDC and USDT as on Bitcoin, which is too high. The ECB prefers to implement the current rules first and then review them. The EU has already allowed stablecoins to be treated with equivalent capital as their reserve assets. The UK will announce its stablecoin regulatory plan this month; Singapore has postponed implementation by one year; Hong Kong plans to launch stablecoins in 2026 and lower the requirements for licensed stablecoins. The Basel Committee has already postponed the overall implementation by one year.PANews reported on October 31st, citing Bloomberg, that the Basel Committee, the global banking regulator, is reassessing capital rules for banks' crypto assets due to the accelerated development of stablecoins. The US advocates for revisions, arguing that the current standards impose the same 1250% risk weight on "permissionless" stablecoins like USDC and USDT as on Bitcoin, which is too high. The ECB prefers to implement the current rules first and then review them. The EU has already allowed stablecoins to be treated with equivalent capital as their reserve assets. The UK will announce its stablecoin regulatory plan this month; Singapore has postponed implementation by one year; Hong Kong plans to launch stablecoins in 2026 and lower the requirements for licensed stablecoins. The Basel Committee has already postponed the overall implementation by one year.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more