EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto
By BtcCasey

EU lawmakers have voted to impose strict capital requirements on banks holding cryptocurrencies, requiring them to have one euro in capital for every euro in crypto held, in an effort to prevent instability in the crypto world from spilling over into the financial system.
The regulation mirrors that suggested by the Bank for International Settlements' Basel Committee, which also suggested a 2% limit on tier 1 capital held in unbacked cryptocurrencies.
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The measures must still be approved by the European Parliament and presented to the Council of the European Union for them to go into effect.

🔬 Russia, Iran Experiment

After the Failure Of Their Stablecoin Experiment, Iran And Russia Will Inevitably Adopt Bitcoin
By Q Ghaemi

Iran and Russia's attempt to create a stablecoin backed by gold to settle trade is doomed to fail. Experimental monetary systems that seek to base themselves off commodities will lead them to the realization that Bitcoin is the solution they need.
Iran has already completed a $10 million trade using Bitcoin, while Russia has reversed its stance on cryptocurrencies and is allowing international settlement in them without restrictions.
Both countries have been on the receiving end of U.S./Western sanctions, leading them to trust no one — especially in the world of finances.

📰 The Daily Bits

🇨🇭 Relai Business

Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin
By BtcCasey

Swiss non-custodial Bitcoin app Relai has launched a new OTC service, Relai Business, which will allow small to medium-sized businesses to purchase bitcoin quickly and securely.
This is the app's second private service, with their first being aimed at high net worth individuals.
The app also recently received a complete overhaul, including a simpler buy-flow and enhanced UX, as well as support for VISA, Mastercard and Apple Pay.
Relai provides non-custodial wallets, allowing users to retain control over their own keys and full sovereignty over their bitcoin, although the most secure way to store bitcoin is always in cold storage using a dedicated hardware device.

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