Regulation
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Against the backdrop of the banking crisis in the US, the Australian Prudential Regulation Authority (APRA) is going to introduce daily reporting for local banks on investments in startups and cryptocurrencies.
According to the Australian Financial Review, the regulator sent out a notice to local banks requiring them to improve the reporting system for investments in crypto assets and send daily updates to this reporting to ARPA. The information was confirmed by three different sources.
The decision to strengthen supervision of Australian banks was made by the APRA leadership against the backdrop of the collapse of several banks in the United States and the liquidity crisis at the large Swiss bank Credit Suisse.
Financial analyst Jonathan Mott said that while the situation of the banking industry in Australia remains stable, but this “could change quickly.” However, while the residents of the country are in no hurry to withdraw deposits from local banks.
Earlier, the US Federal Deposit Insurance Corporation (FDIC) sold the bankrupt Signature Bank, but the division that worked with cryptocurrencies remained under the control of the FDIC.
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