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- Saturday, July 2nd, 2022 at 17:32 #325111weak_pswdParticipant
The Bank of International Settlement released a paper outlining the guidelines to allow banks to hold crypto in their reserves.
Excellent article explaining the guidelines here. https://finbold.com/bank-for-international-settlements-to-allow-banks-to-keep-1-of-reserves-in-bitcoin/
Download the paper here. https://www.bis.org/bcbs/publ/d533.pdf
Banks have been allowed to custody crypto for their customers for some time. This announcement is different. It permits banks to hold crypto on their own balance sheets. It implicitly recognizes crypto as a store of value.
If individual banks begin to hold crypto on their own balance sheets it is only a matter of time before Central Banks do the same.
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