American regulators have just published a major revision of Basel III. Problem: Bitcoin is absent. For Pierre Rochard, CEO of The Bitcoin Bond Company, this silence creates a systemic risk. Banks, without clear guidelines, could find themselves in a costly gray area.
In brief
- The Basel III review does not mention Bitcoin, leaving banks without clear guidelines on its treatment (lending, custody, derivatives).
- Pierre Rochard warns that this regulatory vagueness could slow down innovation and expose banks to unforeseen costs or sanctions.
- As Europe and Asia clarify their crypto rules, the United States risks losing its financial leadership in digital assets.
Basel III: Pierre Rochard criticizes the absence of a framework for Bitcoin
The Basel III proposals, published in March 2026, deliberately ignore Bitcoin. Pierre Rochard is sounding the alarm: without a clear framework, American banks do not know how to deal with exposures linked to Bitcoin, whether loans, custody or derivative products. Furthermore, the Basel SCO60 framework, which imposes a risk weight of 1,250% for non-backed cryptocurrencies, is not even mentioned.
This regulatory silence is not trivial. Indeed, it creates legal uncertainty which could push banks to avoid any activity linked to Bitcoin, for fear of sanctions or unforeseen costs. Rochard insists, and thinks that regulators cannot let this vacuum persist. For him, the consequences could be serious, both for financial institutions and for innovation in the crypto sector.
Why this silence on Bitcoin is a strategic error for the United States
While Europe and Asia clarify their rules for attracting crypto businesses, the United States remains silent. Pierre Rochard criticizes this lack of vision. For him, American regulators are scuttling financial innovation. The most shocking thing is that the Basel III proposals specify the treatment of “tokenized securities”but ignore Bitcoin, a much more dynamic and influential asset.
This double standard could be costly. Indeed, banks deprived of clear guidelines could interpret the rules in divergent ways, creating market distortions. Investors could turn to more welcoming jurisdictions, weakening the position of the United States. Rochard emphasizes that this regulatory vagueness is a strategic error and the United States risks losing its financial leadership.
Pierre Rochard's warnings must be heeded. American regulators have a historic opportunity: to clarify the treatment of Bitcoin in Basel III. Otherwise, the United States risks losing its leadership. And you, do you think the United States should adopt the SCO60 framework for BTC?
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