Bank for International Settlements released new policy allows banks to hold 2% of reserves in cryptocurrency

The Bank for International Settlements (BIS) has just released its Prudential Treatment of Cryptoasset exposure report for December 2022. They have unveiled a new policy that allows banks to hold 2% of their reserves in cryptocurrency.

The policy will go into effect on the first of January 2025 and outlines various facets of how crypto assets are to be categorized and treated.