The Basel Committee, a global standard-setter for banks, said it plans to hold consultations on potential revisions to stablecoin standards, according to Golden Finance. The news comes on the heels of the Commission's review of the elements of the Prudential Standard for Banks' Cryptocurrency Risk, which was released in December last year. The Basel Committee said it would like to consult on criteria for stablecoins to receive Group 1b regulatory treatment, which refers to "cryptoassets with effective stability mechanisms." It also agreed to continue to monitor changes in the bank's cryptocurrency custody activities and consider whether additional work is needed.