New BIS proposal on 'Prudential treatment of cryptoassets exposure' divides coins into two groups:
Group 1: tokenized assets, assets w/ stabilisation mechanisms, fall under existing Basel Framework w/ some tweaks
Group 2: all others (e.g Bitcoin) get risk weight of 1250%
"The application of the 1250% risk weight... will ensure that banks are required to hold risk-based capital at least equal in value to their exposures. In other words, the capital will be sufficient to absorb a full write-off..."
PDF here: https://www.bis.org/bcbs/publ/d519.pdf
@arbedout yes, matt levine's piece today explained this clearly for the great unwashed like me - the 1250% is what i would have thought of as "100% collateralized" although not exactly "fully backed".
Bitcoin Maston Instance