The Texas Senate handed the Bitcoin strategic reserve invoice SB-21 on March 6. This adopted a debate wherein State Senator Charles Schwertner, who launched the invoice, argued that it could assist Texas add a beneficial and scarce asset to its stability sheet.
Amid fears of Bitcoin (BTC) contending in opposition to the US greenback as a world reserve foreign money, Professional-Bitcoin lawmakers argued that Bitcoin was much like gold and a hedge in opposition to inflation.
If SB-21 is enacted, Texas would be the first state within the US to have a digital asset reserve. Nevertheless, the governor should nonetheless signal the invoice earlier than it turns into legislation.
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New York invoice goals to guard crypto buyers from memecoin rug pulls
New York lawmakers launched a invoice to guard crypto customers from memecoin rug pulls, the place insiders abandon a venture after buyers have bought their token. These scams often find yourself with token costs plummeting, inflicting tens of millions in losses to crypto buyers.
On March 5, Assemblymember Clyde Vanel launched the laws to determine felony penalties for offenses that contain “digital token fraud.” This explicitly targets misleading practices related to crypto.
Fideum co-founder and CEO Anastasija Plotnikova advised Cointelegraph that scams and rug pulls must be extra completely regulated. “For my part, these actions ought to fall firmly throughout the jurisdiction of legislation enforcement companies,” Plotnikova added.
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SEC’s Crypto Activity Power to host roundtable on crypto safety standing
The Crypto Activity Power of the US Securities and Change Fee will host a sequence of roundtables to debate the “safety standing” of crypto belongings, with the primary set for March 21.
Crypto Activity Power lead Commissioner Hester Peirce stated she is trying ahead to “drawing the experience of the general public” to develop a workable framework for crypto.
The roundtable sequence known as the “Spring Dash Towards Crypto Readability,” and the primary subject of debate is dubbed “How We Acquired Right here and How We Get Out — Defining Safety Standing.”
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Utah’s Senate passes Bitcoin invoice — however scraps key provision
Utah lawmakers handed a Bitcoin invoice after eradicating a piece that will have allowed its state treasurer to spend money on Bitcoin. Whereas the HB230 invoice handed the state Senate, it eliminated a key reserve clause that will’ve licensed the state treasurer to spend money on digital belongings with a market cap of over $500 billion.
The clause handed the second studying however was scrapped within the third and ultimate studying. Nonetheless, the invoice supplies residents primary custody protections, the appropriate to mine, run a node and stake, amongst different issues.
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Argentine prosecutor goals to freeze belongings in LIBRA memecoin fraud case
Argentine Federal Prosecutor Eduardo Taiano, the lead prosecutor investigating Argentine President Javier Milei’s alleged position within the LIBRA crypto scandal, requested the freezing of virtually $110 million in digital belongings associated to the memecoin case.
Taiano additionally requested the restoration of Milei’s deleted social posts and detailed information of all LIBRA transactions since its launch. The prosecutor goals to reconstruct the monetary operations of Feb. 14 and 15, when the venture’s commerce quantity peaked.
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