The year 2022 did not go well for the crypto money industry, according to the BIS report, the crypto positions of banks also decreased in this process.
A study by the BIS revealed that certain banks’ crypto positions fell by as much as 44 percent in 2022. Banks were also among those joining the industry as the crypto industry became widespread.
Banks’ Crypto Positions Drop By As Much As 44 Percent
Banks around the world have reduced their exposure to certain cryptocurrencies by 43.6 percent over the past year, the Bank for International Settlements (BIS) said in a statement. The decrease was due to the Basel Committee on Banking Supervision, which went into effect last year, confirming that a bank’s exposure to certain cryptocurrencies should not exceed 2 percent.
According to a report by the BIS Basel Committee on Banking Supervision (BCBS), total exposure to cryptocurrencies through exposure to both direct cryptocurrencies and derivatives will increase from 61.7 percent in 2021 to 15.4 percent in 2022. fell.
The change in banks’ crypto exposure is mostly due to fewer banks responding to the BIS survey, the report said. However, it was also stated that other factors such as market conditions and banks are likely due to BCBS reducing its risks due to global crypto banking rules.
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