The Basel Committee proposed revising standards to allow stablecoins to be considered as lower-risk than unsecured cryptocurrencies.

According to a BlockBeats report on December 14th citing CoinDesk, the Basel Committee on Banking Supervision (BCBS) proposed revising its standards in a consultation paper released on Thursday to allow stablecoins to be classified as lower risk than unsecured cryptocurrencies such as Bitcoin. Last week, the BCBS was reported to be considering revising its classification standards for stablecoins, and the consultation paper released on Thursday detailed the proposed revisions. So far, the BCBS has taken a tough stance on cryptocurrencies, recommending a maximum risk weight of 1250% for freely floating digital assets such as Bitcoin, which means banks must issue capital to match their risk exposure. Banks are also not allowed to allocate more than 2% of their core capital to these higher-risk assets. The BCBS stated in a statement that it will not make any changes to these standards.