Disclosure of crypto exposure is mandatory: The Prudential Regulation Authority has requested businesses to reveal their current and projected cryptocurrency exposure by March 2024. This includes assessments extending to September 2029 to ensure financial stability and informed policy-making.
Focus on risks and compliance standards: Firms must demonstrate alignment with the Basel framework for crypto asset risk management and analyze their strategies regarding permissionless blockchains, highlighting the increasing regulatory focus amid a global surge in crypto investments.