seojwob

@seojwob

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Settling in for a meal while drafting a new post. Thoughts flow better with good food—time to share a few fragments of today’s momentum. Simple moments, steady progress.

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In January, US President Donald Trump signed an executive order requiring federal officials to study the feasibility of a national Bitcoin stockpile. It was one of the first actions of Trump’s second presidential term, which started on Jan. 20.

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The brothers were arrested in 2017 following multiple First Information Report filings with the police authorities. According to the reports, Amit Bhardwaj was the mastermind behind GainBitcoin, while his brother was the main “conspirator” responsible for promoting and marketing the scams at crypto events.

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In line with its efforts for a smooth delisting process, Kraken said it plans to put USDt in “sell-only” mode by Feb. 27 and eventually halt all spot trading for the stablecoin on March 24.

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In the other chamber, a group of Republican senators introduced legislation on Feb. 4 proposing certain stablecoin issuers fall under the Federal Reserve system’s regulatory framework. The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, has been referred to the Senate Banking Committee.

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According to Reps. Hill and Steil, the STABLE Act differs from a similar bill introduced in 2023, the Clarity for Payment Stablecoin Act, by giving the Office of the Comptroller of the Currency “the authority to approve and supervise federally qualified nonbank payment stablecoin issuers.” A Democratic staffer told Cointelegraph that Representative Waters was “not supportive” of the Republican-led bill.

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Both draft bills came before the digital assets subcommittee was scheduled to meet for a hearing discussing “a path forward” for crypto legislation, including on stablecoins. Rep. Steil’s proposed stablecoin bill, titled Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, was included in the memo for the hearing — Rep. Waters’ and McHenry’s joint legislation was not.

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Rep. Waters’ announcement came four days after House Financial Services Committee Chair French Hill and Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence chair Bryan Steil — both Republicans — released their version of a payment stablecoin bill discussion draft. Rep. Hill’s notice suggested that Republican lawmakers in the House had not worked with Democrats to draft the legislation but were seeking bipartisan support.

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“At the start of this Congress, Chair Hill extended a hand of bipartisanship to work on stablecoins legislation,” said Rep. Waters. “I firmly believe that the legislation that I’ve unveiled today provides the best foundation for moving forward and getting urgently needed stablecoins legislation signed into law.”

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According to the California lawmaker, the bill represented “three years’ worth of work to craft bipartisan stablecoins legislation.” It included closing loopholes for issuers to circumvent US laws by operating abroad and barring certain convicted fraudsters from working at a senior level at stablecoin firms.

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In a Feb. 10 notice, Rep. Waters suggested that a 2024 stablecoin bill drafted by then-House Financial Services Committee Chair Patrick McHenry and her staff members would be preferable to other legislation proposed by lawmakers in the 119th session of Congress.

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California Representative Maxine Waters has called on lawmakers in the US House of Representatives to support a bill drafted in the previous session of Congress governing payment stablecoins.

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The security status of Solana will also need to be resolved before the SEC can analyze Solana under a “commodities ETF wrapper,” Seyffart said last month.

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However, these actions were taken under the Gary Gensler-led SEC, and Ripple is now hoping that the new SEC leadership, currently led by acting chair Mark Uyeda, will withdraw the enforcement case.

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“Let’s not forget the consumer protection angle: if Bitcoin’s volatility tanks, taxpayers could be on the hook, which raises serious governance questions,” he added.

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As the 16th state to consider such regulation, Kentucky’s move may set a precedent for a federal-level strategic Bitcoin reserve, according to Anndy Lian, author and intergovernmental blockchain expert.

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Kentucky became the 16th state in the US to introduce legislation for a Bitcoin reserve, following Arizona, Alabama, Florida, Massachusets, Missouri, New Hampshire, North Dakota, South Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, Kansas and Wyoming.

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While the bill doesn’t mention particular cryptocurrencies, its criteria refer to digital assets other than stablecoins with a market capitalization of over $750 billion, which is averaged over the previous calendar year.

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Kentucky has become the 16th US state to introduce legislation aimed at establishing a Bitcoin reserve, highlighting the growing adoption of digital assets at the state level.

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The trademarks include Truth.Fi Made in America ETF, Truth.Fi Made in America SMA, Truth.Fi US Energy Independence ETF, Truth.Fi US Energy Independence SMA, Truth.Fi Bitcoin Plus ETF and Truth.Fi Bitcoin Plus SMA.

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