Source: Cointelegraph Original: "{title}"
The Texas Senate passed the Bitcoin Strategic Reserve Bill SB-21 on March 6. During the preceding debate, state senator Charles Schwertner, who proposed the bill, argued that it would help Texas add a valuable scarce asset to its balance sheet.
Amid concerns about Bitcoin (BTC) competing with the dollar as a global reserve currency, supporting legislators believe Bitcoin is akin to gold and serves as a hedge against inflation.
If the SB-21 bill is passed, Texas will become the first state in the U.S. to have a digital asset reserve. However, the bill must still be signed by the governor before it becomes law.
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New York legislators have proposed a bill to protect cryptocurrency users from memecoin "rug pulls" (where insiders abandon a project after investors buy their tokens). These scams often end with token prices plummeting, resulting in millions of dollars in losses for cryptocurrency investors.
On March 5, Representative Clyde Vanel introduced legislation that would impose criminal penalties for crimes involving "virtual token fraud." This specifically targets deceptive practices related to cryptocurrencies.
Anastasija Plotnikova, co-founder and CEO of Fideum, told Cointelegraph that there should be more thorough regulation of scams and "rug pulls." "In my view, these activities should firmly fall under the jurisdiction of law enforcement," Plotnikova added.
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The U.S. Securities and Exchange Commission's cryptocurrency working group will hold a series of roundtable discussions to address the "safety status" of cryptocurrency assets, with the first meeting scheduled for March 21.
Hester Peirce, the chief commissioner of the cryptocurrency working group, stated that she looks forward to "drawing on the public's expertise" to develop a workable framework for cryptocurrencies.
This series of roundtables is dubbed the "Spring Sprint Toward Cryptocurrency Clarity," with the first discussion topic titled "How Did We Get Here and How Do We Get Out—Defining Safety Status."
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Utah legislators passed a Bitcoin bill but removed the provision allowing the state treasurer to invest in Bitcoin. While the HB230 bill passed in the state Senate, it eliminated a key provision that would have authorized the state financial officer to invest in digital assets with a market cap exceeding $500 billion.
The provision passed during the second reading but was removed during the third and final readings. Nevertheless, the bill still provides basic custodial protections for citizens, as well as rights related to mining, operating nodes, and equity participation.
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Argentine federal prosecutor Eduardo Taiano, who is investigating President Javier Milei's alleged involvement in the LIBRA cryptocurrency scandal, has requested the freezing of nearly $110 million in digital assets related to the memecoin case.
Taiano also requested the restoration of Milei's deleted social media posts and detailed records of all transactions since the launch of LIBRA. The prosecutor aims to reconstruct the financial operations from February 14 and 15, when the project's trading volume peaked.
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