The Basel Committee is reevaluating its capital rules for bank-held crypto assets, initially set to be enforced next year, due to the rapid development of stablecoins. The United States is pushing for revisions, arguing that the current 1250% risk weight applied to 'permissionless' stablecoins like USDC and USDT is excessively high, equating them with Bitcoin. Meanwhile, the European Central Bank supports implementing the existing rules before considering changes. The European Union has already adjusted its stance, allowing stablecoins to be treated with capital equivalent to their reserve assets. The United Kingdom is expected to unveil its stablecoin regulatory framework this month, while Singapore has delayed its implementation by a year. Hong Kong plans to introduce stablecoins in 2026 with reduced requirements for licensed stablecoins. The Basel Committee has postponed the overall implementation of these rules by one year.