The Texas Senate handed the Bitcoin strategic reserve invoice SB-21 on March 6. This adopted a debate by which State Senator Charles Schwertner, who launched the invoice, argued that it could assist Texas add a useful and scarce asset to its stability sheet.
Amid fears of Bitcoin (BTC) contending towards the US greenback as a world reserve forex, Professional-Bitcoin lawmakers argued that Bitcoin was just like gold and a hedge towards 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 regulation.
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 mission after traders have bought their token. These scams normally find yourself with token costs plummeting, inflicting hundreds of thousands 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 completely regulated. “In my opinion, these actions ought to fall firmly inside the jurisdiction of regulation enforcement companies,” Plotnikova added.
SEC’s Crypto Process Power to host roundtable on crypto safety standing
The Crypto Process Power of the US Securities and Alternate Fee will host a collection of roundtables to debate the “safety standing” of crypto property, with the primary set for March 21.
Crypto Process Power lead Commissioner Hester Peirce stated she is wanting ahead to “drawing the experience of the general public” to develop a workable framework for crypto.
The roundtable collection known as the “Spring Dash Towards Crypto Readability,” and the primary matter 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 piece 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 licensed the state treasurer to put money into digital property 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 offers residents fundamental custody protections, the appropriate to mine, run a node and stake, amongst different issues.
Argentine prosecutor goals to freeze property in LIBRA memecoin fraud case
Argentine Federal Prosecutor Eduardo Taiano, the lead prosecutor investigating Argentine President Javier Milei’s alleged function within the LIBRA crypto scandal, requested the freezing of virtually $110 million in digital property 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 mission’s commerce quantity peaked.
