Bitcoin exchange rate exceeded 38 thousand dollars
On Thursday, June 10, Bitcoin peaked at $ 38,200 (13:44 GMT+3) and then declined again. At the time of this writing, the cryptocurrency is trading at $ 37,822 (16:44 GMT+3).
Perhaps this jump in crypto is due to the fact that the Basel Committee on Banking Supervision, which sets international banking standards, recommended stricter requirements for storing capital in Bitcoins than in stocks or bonds.
The committee has set a risk ratio of 1250% for Bitcoin, Ether and all other cryptocurrencies. This ratio does not apply only to stablecoins, which are fully backed by reserves.
Such rules oblige banks to hold assets equivalent to the par value of Bitcoins.
Probably, the cryptocurrency market was expecting a worst-case scenario, so the reaction to the classification of Bitcoin as a high-risk asset by the Committee was the opposite of what was expected.
According to Denis Vinokurov, head of research at Synergia Capital, it is normal that various regulators are trying to establish and coordinate regulatory initiatives to protect depositors and investors.
“Basel’s proposal to split assets into groups makes logical sense, given the different parameters of volatility and risk,” added Vinokurov.