What are Basel's crypto banking rules?
As a professional practitioner in the realm of cryptocurrency and finance, I'm curious to delve deeper into the question: "What are Basel's crypto banking rules?" Basel, being a global hub for banking regulations, has been a key player in shaping the framework for how banks should operate, particularly with regard to risk management. Given the increasing prominence of cryptocurrencies in the financial landscape, it's imperative to understand how Basel's principles apply to this emerging asset class. Specifically, I'm interested in knowing how these rules govern areas such as capital adequacy, liquidity, leverage, and counterparty risk management for banks engaging in crypto-related activities. Clarifying these aspects would help us better assess the implications for both traditional banks and crypto-focused institutions.