The Basel Committee on Banking Supervision (BCBS), headquartered in Basel, Switzerland, is an international standards-setting and financial stability authority made up of 45 members representing 28 countries from around the world.
Central Bank and similar governing bodies form the membership group.
The Committee, as it’s also known as, uses an informal forum to discuss and agree on the standards used by banks around the world regarding capital, liquidity, and funding, although what they do agree on doesn’t actually become regulation or law.
The Committee is primarily concerned with understanding bank supervisory issues and coming up with ways to improve banking regulation worldwide.
Regarding cryptocurrency asset regulation, the Committee makes suggestions to banks on how to limit their exposure to crypto asset risk, in the form of varying capital requirements for different types of cryptocurrencies, such as stablecoins, or tokenized sticks, or non-stablecoin not-tokenized cryptocurrencies like bitcoin (BTC) and most altcoins.
The original 10 members included Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Spain, Sweden, Switzerland, the United Kingdom, and the United State.