News Regulators 

Basel Committee Warns Banks Against “Immature” Digital Assets

“The Basel Committee has issued a fresh warning to the banks against the risks associated with digital assets” writes Arnab Shome for financemagnates.com. Compared to the mainstream financial sector, the size of the digital asset industry is small and banks all over the globe also have a “very limited direct exposures” to the cryptocurrency sector.This is not the first warning issued by the committee as, last year, it criticized the digital assets for their lack of scalability. Source: financemagnates.com

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Crypto-assets pose risks to global banks, warns Basel Committee

“LONDON (Reuters) – The growth in crypto-assets such as Bitcoin pose a threat to banks and global financial stability, despite relatively low levels of exposure among key players, the Basel Committee has warned” writes Midwest Communications Inc for 95kqds.com. Crypto-assets are not a reliable substitute for money and are unsafe to rely on as a medium of exchange or store of value, the global banking watchdog said in a statement on Wednesday.The Basel Committee said that while banks currently have “very limited” direct exposure to crypto-assets, they should still improve…

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Tennis: Federer beats Copil to win 99th career title in Basel

“(Reuters) – World number three Roger Federer beat Romanian qualifier Marius Copil 7-6(5) 6-4 to win the Swiss Indoors on Sunday and claim his 99th career title in front of his home crowd in Basel” writes Midwest Communications Inc for 95kqds.com. Despite being broken twice by world number 93 Copil, Federer was never truly in danger, striking 22 winners and winning 32 out of 34 first-serve points.The Swiss top seed was made to work hard by the fearless Copil, whose path to the final included wins over world number six…

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Tennis: Federer to face Romanian qualifier Copil in Basel final

“Copil, the world number 93, stunned second seed Alexander Zverev of Germany 6-3 6-7(6) 6-4 in the day’s other semi-final” writes Midwest Communications Inc for 95kqds.com. Standing between Federer and what would be his ninth career title at his hometown tournament is the unfancied Copil, who beat world number six Marin Cilic earlier in the week. Source: 95kqds.com

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News Regulators 

Countries Face Rising Exposure to Money Laundering, Basel Report Finds

“More countries are showing heightened risks of exposure to money laundering, according to an annual ranking of countries assessing their money-laundering risk” writes Samuel Rubenfeld for wsj.com. High scores, based on a 10-point scale, indicate a country is more vulnerable to money laundering.The index singled out Denmark as being at a heightened risk for money laundering, compared with previous years.No country has zero risk of money laundering.The institute, however, stresses that the index doesn’t assess the actual amount of illicit financial funds flowing through a country. Source: wsj.com

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