Texas Senate passes Bitcoin reserve bill, New York targets memecoin rug pulls: Law Decoded
10 Marzo 2025 - 8:00PM
Cointelegraph


The Texas Senate passed the Bitcoin strategic reserve bill SB-21
on March 6. This followed a debate in which State Senator Charles
Schwertner, who introduced the bill, argued that it would help
Texas add a valuable and scarce asset to its balance
sheet.
Amid fears of Bitcoin (BTC) contending against the US dollar
as a global reserve currency, Pro-Bitcoin lawmakers argued that
Bitcoin was similar to gold and a hedge against
inflation.
If SB-21 is enacted, Texas will be the first state in the US to
have a digital asset reserve. However, the governor must still sign
the bill before it becomes law.
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New York bill aims to protect crypto investors from memecoin
rug pulls
New York lawmakers introduced a bill to protect crypto users
from memecoin rug pulls, where insiders abandon a project after
investors have purchased their token. These scams usually end up
with token prices plummeting, causing millions in losses to crypto
investors.
On March 5, Assemblymember Clyde Vanel introduced the
legislation to establish criminal penalties for offenses that
involve “virtual token fraud.” This explicitly targets deceptive
practices associated with crypto.
Fideum co-founder and CEO Anastasija Plotnikova told
Cointelegraph that scams and rug pulls should be more thoroughly
regulated. “In my view, these activities should fall firmly within
the jurisdiction of law enforcement agencies,” Plotnikova
added.
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SEC’s Crypto Task Force to host roundtable on crypto security
status
The Crypto Task Force of the US Securities and Exchange
Commission will host a series of roundtables to discuss the
“security status” of crypto assets, with the first set for March
21.
Crypto Task Force lead Commissioner Hester Peirce said she is
looking forward to “drawing the expertise of the public” to develop
a workable framework for crypto.
The roundtable series is called the “Spring Sprint Toward Crypto
Clarity,” and the first topic of discussion is dubbed “How We Got
Here and How We Get Out — Defining Security Status.”
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Utah’s Senate passes Bitcoin bill — but scraps key
provision
Utah lawmakers passed a Bitcoin bill after removing a section
that would have allowed its state treasurer to invest in Bitcoin.
While the HB230 bill passed the state Senate, it removed a key
reserve clause that would’ve authorized the state treasurer to
invest in digital assets with a market cap of over $500
billion.
The clause passed the second reading but was scrapped in the
third and final reading. Still, the bill provides citizens basic
custody protections, the right to mine, run a node and stake, among
other things.
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Argentine prosecutor aims to freeze assets in LIBRA memecoin
fraud case
Argentine Federal Prosecutor Eduardo Taiano, the lead prosecutor
investigating Argentine President Javier Milei’s alleged role in
the LIBRA crypto scandal, requested the freezing of almost $110
million in digital assets related to the memecoin case.
Taiano also requested the recovery of Milei’s deleted social
posts and detailed records of all LIBRA transactions since its
launch. The prosecutor aims to reconstruct the financial operations
of Feb. 14 and 15, when the project’s trade volume
peaked.
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...
Continue reading Texas Senate passes Bitcoin reserve
bill, New York targets memecoin rug pulls: Law Decoded
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Texas Senate passes Bitcoin reserve bill, New York
targets memecoin rug pulls: Law Decoded appeared first on
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