Bank of England asks businesses to disclose current and future crypto exposure

Description

Businesses in the United Kingdom holding Bitcoin or other cryptocurrencies on their balance sheets will be required to disclose their exposure according to a new mandate. On December 13, the Prudential Regulation Authority (PRA), the regulatory arm of the Bank of England , issued a statement urging businesses operating under its jurisdiction to disclose their existing and future “crypto asset exposure.” Additionally, businesses must also detail how they are adopting and implementing the “Basel f...