⚠️ Crypto-assets pose risks to global banks, warns Basel Committee

The Basel Committee, a banking watchdog consisting of central banking heads, has issued a warning to major banks to take steps to minimize risk against crypto-assets. The group stated that regardless of exposure, crypto-assets remain a threat to banks and financial security. The warning comes in the wake of multiple bank movements toward crypto-assets such as J.P. Morgan's launch of a digital token.