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Arizona’s Senate has advanced a Bitcoin reserve bill, bringing it to second place behind Utah in a race between US states to get a crypto investment bill approved.
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The bill defines “digital assets” as cryptocurrencies, stablecoins and non-fungible tokens.
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The company currently has 478,740 BTC, valued at roughly $45.8 billion, and is up over 47% on its investment. Strategy also issued $2 billion in convertible bonds on Feb. 20 to purchase more of the decentralized, supply-capped asset.
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https://warpcast.com/davisamelia03741/0xae4aa35d
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https://warpcast.com/davisamelia03741/0x6f93693c
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Securitize, Franklin Advisors and The Northern Trust company have been shortlisted for “reserves management,” and three of the Big Four accounting firms have been shortlisted for “internal controls.”
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”In totality, that amendment did not even receive a floor vote. It was withdrawn in the Senate before it even went forward. So, if the assertion here is that money is going to move the needle, Wyoming’s legislature is not for sale,” he said.
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Tied to Trump’s NFT ventures, CIC Digital will receive 80% of the total supply in six allocations. These will unlock linearly over 24 months following an initial lock-up period of three to 12 months. The remaining tokens include 10% reserved for liquidity and 10% for public distribution, fully unlocked at launch.
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The project’s website outlines a total supply of 1 billion tokens, set to be released over three years. At launch, 200 million tokens, about 20% of which were unlocked, with the remaining 800 million gradually distributed over 36 months.
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The sectors said this information should be a priority to protect from theft or surveillance by foreign adversaries who might seek to harm the US.
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Despite the withdrawal, Copper continues to see Europe as one of its key markets alongside the US and the Middle East, Kuchinad noted, adding:
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“Withdrawing our application to register as a crypto asset institution in the UK is the right decision for our business and reflects our refocus on driving growth in priority markets and the expansion of our product portfolio,” he stated.
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According to Balchunas, the next step for MSTR is inclusion in the S&P 500 Index, which he expects to occur next year.
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“The ‘exit tax’ at issue violates both the Apportionment Clause and the Due Process Clause of the Constitution [...] the charges also rely on provisions of the U.S. tax laws that were, at all relevant times, inscrutably vague as to their application to digital assets of the kind that underlie the charges,” Ver’s lawyers argued.
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In a Dec. 3 filing to a California federal court, Ver argued that the Internal Revenue Service’s (IRS) exit tax for those who renounce their US citizenship with more than $2 million in assets is unconstitutional and “inscrutably vague.”
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Roger Ver — also known as Bitcoin Jesus — urged a United States judge to dismiss a case alleging he committed tax evasion when selling millions of dollars in Bitcoin, claiming the case is unconstitutional.
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“While reaching $100,000 for Bitcoin seems inevitable at some point, it’s uncertain whether it will happen before the end of the year, as we can expect the market to experience some ups and downs along the way.”
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Still, Szymon Sypniewicz, co-founder and CEO of Ramp Network, is uncertain that it will cross the $100,000 mark before the end of 2024. Sypniewicz recently told Cointelegraph:
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Bitcoin was just $200 away from reaching the $100,000 all-time high on Nov. 22 when it surpassed $99,800.
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“As long as this continues, BTC should be able to reclaim the ~$96400 support,” they said.
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