Texas Senate passes Bitcoin reserve bill, New York targets memecoin fraud

From Cointelegraph

March 10, 2025 3:00 pm:

The Texas Senate passed the Bitcoin strategic reserve bill SB-21 on March 6, making Texas the first state in the US to have a digital asset reserve pending the governor’s signature. Pro-Bitcoin lawmakers argued that Bitcoin is a hedge against inflation and similar to gold.

New York lawmakers introduced a bill to protect crypto users from memecoin rug pulls, targeting deceptive practices associated with crypto. The legislation aims to establish criminal penalties for virtual token fraud. Regulations should be more thoroughly enforced, according to Fideum co-founder and CEO Anastasija Plotnikova.

The SEC’s Crypto Task Force will host roundtables on the security status of crypto assets, with the first set for March 21. Commissioner Hester Peirce hopes to draw public expertise to develop a framework for crypto clarity. The series is titled “Spring Sprint Toward Crypto Clarity.”

Utah passed a Bitcoin bill but removed a provision allowing the state treasurer to invest in Bitcoin. The bill provides citizens with custody protections, the right to mine, run a node, and stake. The removed clause would have authorized the treasurer to invest in digital assets with a market cap over $500 billion.

Argentine Federal Prosecutor Eduardo Taiano requested the freezing of nearly $110 million in digital assets related to the LIBRA memecoin fraud case. Taiano aims to recover deleted social posts and detailed records of all LIBRA transactions to reconstruct financial operations around the project’s peak trade volume.

Read more at Cointelegraph: Texas Senate passes Bitcoin reserve bill, New York targets memecoin rug pulls: Law Decoded