People who never worked in an Investment Bank don't understand how important this is.
Do you really want to stand againt the most powerful government doing everything possible to open the door of institutional capital for Bitcoin?
NEW: Sen. Sullivan and Sen. Lummis lead letter to the Fed, FDIC and OCC, calling for revaluation of Baselâs risk weighting for Bitcoin and digital assets.
âA 1,250% risk weight bypasses those calibrated frameworks entirely, applying a blunt penalty âŚto a transparent, globally traded asset with deep derivatives markets, continuous liquidity, and cryptographic auditability.â
This is a strong signal from Washington that legislators are looking closely at this issue as work on market structure continues. The letter has 6 signatories and 3 are on the Banking Committee.
Itâs also great to see BPIâs brief on this topic cited in the third footnote! đ
Weâll keep you posted on further updates.