The Texas Senate handed the Bitcoin strategic reserve invoice SB-21 on March 6. This adopted a debate during which State Senator Charles Schwertner, who launched the invoice, argued that it might assist Texas add a precious and scarce asset to its stability sheet.
Amid fears of Bitcoin (BTC) contending in opposition to the US greenback as a worldwide reserve forex, 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. Nonetheless, the governor should nonetheless signal the invoice earlier than it turns into legislation.
New York invoice goals to guard crypto traders 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 traders have bought their token. These scams normally find yourself with token costs plummeting, inflicting tens of millions in losses to crypto traders.
On March 5, Assemblymember Clyde Vanel launched the laws to ascertain legal penalties for offenses that contain “digital token fraud.” This explicitly targets misleading practices related to crypto.
Fideum co-founder and CEO Anastasija Plotnikova informed Cointelegraph that scams and rug pulls must be extra totally regulated. “In my opinion, these actions ought to fall firmly inside the jurisdiction of legislation enforcement companies,” Plotnikova added.
SEC’s Crypto Process Pressure to host roundtable on crypto safety standing
The Crypto Process Pressure of the US Securities and Trade Fee will host a sequence of roundtables to debate the “safety standing” of crypto belongings, with the primary set for March 21.
Crypto Process Pressure 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 Bought Right here and How We Get Out — Defining Safety Standing.”
Utah’s Senate passes Bitcoin invoice — however scraps key provision
Utah lawmakers handed a Bitcoin invoice after eradicating a bit that might have allowed its state treasurer to put money into Bitcoin. Whereas the HB230 invoice handed the state Senate, it eliminated a key reserve clause that might’ve approved the state treasurer to put money into digital belongings with a market cap of over $500 billion.
The clause handed the second studying however was scrapped within the third and last studying. Nonetheless, the invoice offers residents fundamental custody protections, the appropriate to mine, run a node and stake, amongst different issues.
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 data 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.
