The Bank for International Settlements (BIS) has approved proposed regulations on banks' disclosure of cryptocurrency risk exposure. The BIS's Basel Committee on Banking Supervision approved proposed regulations on banks' disclosure of cryptocurrency asset risk exposure and amendments to the prudential regulation of cryptocurrency assets at its meeting on the 2nd and 3rd of this month. This would require banks to disclose information on their risk exposure to virtual assets, including trading activity and holdings. The Basel Committee began work on the proposed regulations in December 2022 with the aim of establishing standards and providing adequate information for threat and risk assessment of virtual assets. The Basel Committee will release more details on the proposed rules later this month. The finalized rules will apply from 2026.