Part 2/10:
Basel III is a set of international banking standards developed by the Basel Committee on Banking Supervision, established in 1974. The committee was created in response to the 2008 financial crisis, seeking to strengthen global financial stability. The rules are formulated in Basel accords, but they do not constitute law; instead, each country decides how and whether to implement them.
Although effective from July 1, 2025, Basel III's implementation is phased over three years, meaning there will be no sudden changes or immediate crashes. Importantly, Basel III does not impact the value of the U.S. dollar or require individuals or businesses to convert their assets into alternative investments.