The Basel Committee has released an update to the compliance rules for banks with crypto assets. It has also released the final disclosure framework. The rule changes appear to be relatively minor compared to previous plans. In the latest consultation, the committee threatened to treat traditional digital securities on public blockchains as having the same risks as cryptocurrencies. This would prevent banks from participating in tokenization plans on public blockchains because of their prohibitive cost. However, the changes do not mention permissionless blockchains at all, which is good news for bank tokenization efforts. Likewise, the two largest proposed changes to stablecoins were removed from the final changes. The consultation recommended that all stablecoin reserves must be held in bankruptcy remote instruments. This is problematic for stablecoin reserves held in bank accounts, while Europe's MiCA regulations require a high proportion of reserves to be held in banks. The final Basel rules provide an exception for bank balances. The Basel committee is also considering banning the use of securities financing transactions such as repos and reverse repos in stablecoin reserves. Although the Basel announcement says reverse repos are limited, this is not very clear and appears to be up to national regulators to decide on their own. Meanwhile, the committee has previously delayed the implementation of these rules until January 2026.