UK plans to push regulatory rules for restricted bank cryptocurrency assets

According to CoinDesk, David Bailey, Executive Director of Prudential Policy at the Bank of England, stated that the UK plans to introduce stricter regulatory rules for banks' exposure to cryptocurrency assets by 2026 to maintain financial stability. This proposal will adopt the recommendations of the Basel Committee and may limit exposure to high volatility assets such as Bitcoin to within 1%. Bailey stated in London that it is more appropriate to adopt a more conservative approach towards bank cryptocurrency risks at this stage.