What are the Basel capital requirements for Group 1 cryptoassets?
Could you please explain in detail what the Basel capital requirements entail specifically for Group 1 cryptoassets? I'm particularly interested in understanding the risk weights assigned to these assets and how they differ from other asset classes. Additionally, I'd like to know if there are any specific guidelines or frameworks in place to assess the creditworthiness of these cryptoassets within the context of Basel regulations. It would be helpful if you could also touch upon any potential challenges or implications these requirements may have on the crypto industry as a whole.