Amitoj Singh Amitoj Singh is CoinDesk's regulatory reporter covering
India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000. Follow @ amitoj on
Twitter Australia's Prudential Regulation Authority (APRA) has asked banks to report their exposure to startups and crypto-related business, in some cases on a daily basis, the
Australian Financial Review (AFR) reported, citing sources. The (APRA) is an independent authority accountable to the Australian Parliament and is concerned with maintaining the safety and soundness of financial institutions to protect the interests of depositors and other stakeholders. The APRA has "begun asking banks to declare their exposures – in some cases daily – to start-ups and crypto-focused ventures," AFR cited the sources as saying. The banks have also been told to "improve their reporting around crypto assets" as the APRA seeks to gain more insight into exposures and vulnerabilities in the system in the wake of the recent collapses of crypto banks. When contacted by CoinDesk, APRA referred to its statement last week that the regulator is intensifying supervision of the local banking industry and is seeking more information from them on any potential impacts. Read More: Australia's Treasury and Reserve Bank Held Consultations With Coinbase, Others DISCLOSURE Please note that our privacy policy , terms of use , cookies , and do not sell my personal information has been updated . The leader in news and information on
cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups . As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG . Amitoj Singh Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000. Follow @ amitoj on Twitter Learn more about Consensus 2023 , CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now. Amitoj Singh Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000. Follow @ amitoj on Twitter