In December 2022, the Basel Committee on Banking Supervision published a new standard on the prudential treatment of cryptoassets exposures. At the heart of this standard is a newly created categorization of cryptoassets. This categorization is used to decide whether a cryptoasset should essentially be treated like a comparable traditional asset, or whether a new conservative capital treatment is applied. This article presents the new categorization, highlights its importance for cryptoassets which are issued pursuant to Austrian law, and examines the relationship between cryptoassets under MiCAR and cryptoassets according to Basel.
The article can be found here (German only).