Coinbase, Circle oppose Basel Committee on Banking Supervision’s stablecoin requirements

According to BlockBeats, on April 2, The Block reported that Coinbase and Circle are objecting to various aspects of the Basel Committee on Banking Supervision's proposal, which introduces stricter standards for preferential regulatory treatment of bank stablecoin risk exposure. It is reported that the proposed requirements determine whether stablecoins qualify for the "Group 1b Category", which grants preferential regulatory treatment. According to the consultation document, certain criteria must be met, including low volatility and sufficient liquidity. The deadline for comments on the document is March 28. Coinbase said in response to the above requirements: "The committee's choice demonstrates a desire to strictly limit banks' holding and therefore use of stablecoins." Circle expressed dissatisfaction with the statement in the committee's report that blockchain has "unique risks."