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Thiel, who helped shape VARA’s regulatory framework in 2022, said the UAE stands out for its proactive approach to digital asset regulations. He noted that many global jurisdictions still struggle to develop clear guidelines for tokenized assets.
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South Korean regulators had previously reported on Upbit’s alleged KYC violations in November 2024, with the FIU identifying up to 600,000 breaches in its client identification procedures.
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Securities regulators had been investigating Robinhood’s cryptocurrency operations for the better part of a year. As Cointelegraph reported, Robinhood’s US-based crypto business was subject to an SEC Wells notice on May 4, 2024. At the time, the SEC made a “preliminary determination” to recommend enforcement actions tied to alleged securities violations.
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Texas’ push for a Bitcoin reserve reflects a broader economic and political shift,” he added.
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While positive news around Bitcoin reserve legislation is a welcome sign of continued institutional adoption, Bitcoin’s trajectory is mainly driven by the US Federal Reserve’s monetary policy path, according to Kalchev:
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Wyoming, in the United States, has introduced a bill to create a Strategic Bitcoin Reserve, joining several other states nationwide ahead of Donald Trump’s presidential inauguration on Jan. 20.
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Lummis, a vocal Bitcoin advocate who introduced the Bitcoin Strategic Reserve bill to the US Senate in July 2024, praised Wyoming representative Jacob Wasserburger for introducing the legislation to “allow permanent funds to diversify into Bitcoin.”
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Lummis said, “This forward-thinking approach will benefit our state as we lead the nation in financial innovation.”
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The bill proposed that the Wyoming state treasurer may use the general fund, the permanent Wyoming mineral trust fund, and the permanent land fund to invest in Bitcoin; however, it was said that under each fund, no more than 3% could be allocated to Bitcoin.
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It was also said that if the total market value of Bitcoin investments in any of the funds surpasses the 3% limit, the state treasurer “shall not be required to sell or otherwise reduce the investments to comply with the limits of this section.”
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To date, Pennsylvania, Texas, Ohio, New Hampshire, Oklahoma, North Dakota, and Massachusetts have all put forward a Strategic Bitcoin Reserve bill.
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The development comes as the odds of Trump establishing a strategic Bitcoin reserve after taking office on Jan. 20 are soaring on betting markets Kalshi and Polymarket.
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It comes just days after Lummis sent a letter to the US Marshals Service on Jan. 15 demanding answers for the government’s potential sale of 69,370 Bitcoin seized in the Silk Road asset forfeiture.
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The United States Securities and Exchange Commission has charged Digital Currency Group (DCG) and former Genesis CEO Soichoro “Michael” Moro with misleading investors about the financial health of Genesis in the aftermath of the Three Arrows Capital (3AC) collapse.
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Lummis characterized attempts to sell the US government’s Bitcoin holdings as a form of political spite.
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The United States Securities and Exchange Commission has charged Digital Currency Group (DCG) and former Genesis CEO Soichoro “Michael” Moro with misleading investors about the financial health of Genesis in the aftermath of the Three Arrows Capital (3AC) collapse.
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Lummis characterized attempts to sell the US government’s Bitcoin holdings as a form of political spite.
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It comes just days after Lummis sent a letter to the US Marshals Service on Jan. 15 demanding answers for the government’s potential sale of 69,370 Bitcoin seized in the Silk Road asset forfeiture.
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Grayscale cited the warming US policy environment as a key factor. Trump has promised to appoint industry-friendly leaders to key regulatory agencies and make the US “the world’s crypto capital.”
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“In the US, with Trump’s victory, I am aggressively bullish on the US becoming a global leader in the space by the end of the year,” Raj Brahmbhatt, CEO of Web3 settlement company Zeebu, told Cointelegraph in December.
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