Bearish beyond belief. The Basel Committee proposed that banks limit their max positions in at-risk crypto assets to 1% of equity. (Reporting via Bio_Chameleon)
during its second consultation on the prudential treatment of crypto-asset exposures that banks limit their exposure to so-called Group 2 crypto assets to just 1% of their Tier 1 capital.
Group 1 digital assets consist of tokenized traditional assets, such as synthetic stocks, or those with effective stabilization mechanisms, such as regulated stablecoins. Under the new proposal, Group 1 digital assets would be subject to at least equivalent risk-based capital requirements as traditional capital assets within the current capital framework, Basel III.
However, cryptocurrencies that do not meet the above requirements will be classified as Group 2 digital assets, which would theoretically include major non-stablecoin, non-tokenized cryptocurrencies like Bitcoin and most altcoins. Therefore, banks would only be able to commit 1% of their total equity or net asset value in either long or short positions toward Group 2 digital assets.Moreover, the Basel Committee is considering banks adopting a 1,250% risk premium for Group 2 digital assets.
The move would likely severely constrain banks' ability to purchase volatile cryptocurrency in the future as, for the sake of argument, a bank would need to add $125 million worth of risk-weighted assets to its portfolio for every $10 million in Bitcoin purchased, making them far less lucrative than assets with less risk-weighting premiums.
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