The global financial industry has urged regulators to refrain from imposing stringent capital rules on digital assets, warning these requirements would drive activity underground and deprive banks of the benefits of the technology. Trade groups representing banks, asset managers and the blockchain industry told the Basel Committee on Banking Supervision that the authorities’ proposals would make it too expensive for banks to participate in the rapidly growing crypto industry and related technologies.
https://www.ft.com/content/05675352-3451-4b92-9ef9-b3e769bf30e3