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m4197301

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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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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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According to the Jan. 17 filing, DCG and Moro have agreed to pay a combined $38.5 million in civil penalties, with DCG liable for $38 million and Moro liable for $500,000.
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Moro and DCG agreed to the civil penalties without admitting to or denying any violations of the Securities Act of 1933.
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Moro and DCG agreed to the civil penalties without admitting to or denying any violations of the Securities Act of 1933.
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m4197301
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According to the Jan. 17 filing, DCG and Moro have agreed to pay a combined $38.5 million in civil penalties, with DCG liable for $38 million and Moro liable for $500,000.
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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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Louseimin
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Less than a month before a new United States presidential administration and Congress are set to be sworn into office, many figures in the digital asset industry are speculating the change in leadership could lead to more favorable regulations and laws.
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oplsickness
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For some executives, any change in policy from the US government could be apparent through actions from the Securities and Exchange Commission. Under SEC Chair Gary Genser and his predecessor Jay Clayton, the commission filed several enforcement actions against US crypto firms over allegations of unregistered securities offerings, including against Ripple and Coinbase.
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Ripple is currently appealing an August 2024 judgment in its case against the SEC, which found the firm liable for $125 million.
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Others like Coinbase chief legal officer Paul Grewal seemed to support the implications on the SEC for the US Supreme Court overturning the Chevron doctrine in 2024. The June opinion removed the practice of courts generally deferring to agencies’ interpretations of laws and regulations and required them to “exercise their independent judgment,” suggesting that judges could modify their approach to SEC cases involving digital assets.
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There are several court cases between the SEC and Commodity Futures Trading Commission (CFTC) against crypto firms that are expected to move forward in 2025.
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After a year of sentencing former FTX executives as well as sending former Binance CEO Changpeng Zhao to prison for four months, US authorities will look at the criminal cases against former Celsius CEO Alex Mashinsky and Terraform Labs co-founder Do Kwon, recently extradited from Montenegro.
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Any change in leadership at the US Attorney’s office in New York — where many civil and criminal cases against crypto firms and executives are handled — or at the SEC or CFTC could potentially upend existing cases.
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