Odaily Planet Daily reported that the world's major financial lobbying groups called on regulators to suspend the upcoming new regulations on banks' cryptocurrency business and review measures they believe are too harsh.

In a joint letter to the Basel Committee on Banking Supervision, the industry associations said policymakers should seek updated information to understand the use cases for distributed ledger technology that underpins digital assets and consider appropriate redesign and recalibration of relevant standards before their formal adoption in 2026. (Bloomberg)