Basel Unveils Proposal on Cryptocurrency Exposure: Projected Impact on Bitcoin SV and VC Spectra Pricing
The Basel Committee on Banking Supervision (BCBS) has created a proposal for the banks it oversees to reveal their crypto exposure from 2025. What does this mean for the crypto market? Does this impact Bitcoin SV (BSV) and the brand-new VC Spectra (SPCT)?
Let’s cover the BCBS news before looking at the latest for Bitcoin SV and getting involved in VC Spectra's presale.
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BCBS proposes to have banks reveal all their crypto activity from 2025.
Bitcoin SV climbs higher despite false iShares Bitcoin ETF story; forecasts indicate a minimum BSV value of $60 by 2024.
VC Spectra (SPCT) is a few presale stages away from officially launching; it will be worth $0.080 by 2024
The BCBS is a committee of banking authorities with 45 members from 28 countries. It has proposed a regulation in which banks operating in the member nations will have to disclose their crypto holdings from January 1, 2025.
The recent collapses of Signature Bank and Silicon Valley Bank have partly fueled this potential move. These institutions were involved in massive crypto lending and other related activities, which the BCBS seeks to discourage.
However, many analysts believe that crypto was not the main catalyst for the downfalls of the two banks. Regardless, the proposal would only affect a tiny portion of the banking industry. So, other banks and financial institutions will continue to be involved, which is a plus for top altcoins like Bitcoin SV (BSV) and VC Spectra (SPCT).
Bitcoin SV (BSV) has been a standout performer in recent months off the back of progress related to Bitcoin (BTC). The applications of exchange-traded funds (ETF) for the former have boosted the price of Bitcoin SV (BSV).
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