Schlagwort: crypto news

Veröffentlicht am

Kentucky Governor Andy Beshear signs “Bitcoin Rights” bill into law

  • Kentucky’s “Bitcoin Rights” bill has been signed into law.
  • The “Bitcoin Rights” law protects crypto use and mining in the state of Kentucky.
  • The law also bans discriminatory zoning and clarifies mining rules.

Kentucky Governor Andy Beshear signed the “Bitcoin Rights” bill into law on March 24, 2025, cementing the state’s position as a leader in digital asset protection.

Known officially as House Bill 701, this legislation safeguards the rights of Kentuckians to use, hold, and mine cryptocurrencies like Bitcoin (BTC) without facing discriminatory regulations.

Notably, the bill’s unanimous passage through both the Kentucky House and Senate underscores a rare bipartisan consensus on the growing importance of blockchain technology in the modern economy.

“Bitcoin Rights” bill quickly passed the Kentucky House and Senate

The journey to this historic signing began on February 19, 2025, when Representative Adam Bowling introduced HB 701 to the Kentucky House.

Designed to protect the “right to self-custody, run a node, and use of digital assets,” as highlighted by the Satoshi Action Fund, the bill quickly gained traction.

By February 28, it sailed through the House with a resounding 91-0 vote, followed by an equally decisive 37-0 approval in the Senate on March 13.

Beshear’s signature just over a week later marked the culmination of a swift legislative process, reflecting Kentucky’s eagerness to embrace the crypto revolution.

What does Kentucky’s “Bitcoin Rights” law entail?

At its core, the “Bitcoin Rights” bill, now law, offers robust protections for crypto users and operators across the state. It explicitly bans local governments from enacting zoning changes that unfairly target cryptocurrency mining, ensuring that miners can operate without undue interference.

Additionally, the legislation clarifies that mining and staking activities do not require a money transmitter license and are not classified as securities offerings.

This clarity removes significant legal hurdles, fostering an environment where individuals and businesses can confidently engage with digital assets.

It also sets guidelines for running crypto nodes and ensures that digital assets can be used freely without fear of discrimination.

Notably, the Kentucky law mirrors a similar legislative effort in Oklahoma, where Governor Kevin Stitt signed a comprehensive crypto bill into law in May 2024.

Oklahoma’s legislation, effective November 1, 2024, also protects self-custody and mining while prohibiting discriminatory energy rates for crypto businesses. Kentucky’s move, however, adds a unique twist by explicitly addressing local zoning issues, a provision that could set a precedent for other states.

US states including Kentucky are working on Bitcoin reserve bills

The timing of Beshear’s signing is particularly notable, as it coincided with significant crypto-related developments elsewhere in the US.

On the same day, March 24, 2025, Oklahoma’s Strategic Bitcoin Reserve Act passed its State House of Representatives with a 77-15 vote.

This bill, now awaiting Senate approval, aims to establish a state-managed Bitcoin reserve, signalling a growing trend among states to integrate digital assets into their financial frameworks.

Kentucky itself has a similar bill under review, which could allow up to 10% of excess state reserves to be allocated to cryptocurrencies like Bitcoin (BTC).

While the US Congress continues to debate bills on stablecoins and broader crypto regulations, states like Kentucky, Oklahoma, and Arizona are forging ahead. Arizona, for instance, is leading the “State Bitcoin reserve race,” with two strategic digital asset reserve bills advancing to its House floor on March 24, 2025.

Meanwhile, Missouri’s Special Committee on Intergovernmental Affairs is evaluating its own Bitcoin reserve proposal, hinting at a competitive push among states to become crypto-friendly hubs.

For Kentucky, the “Bitcoin Rights” bill is more than just a legal framework—it’s a statement of economic intent. By protecting home and industrial crypto mining and ensuring equitable access to energy rates, the state is positioning itself as a welcoming destination for blockchain innovation.

The post Kentucky Governor Andy Beshear signs “Bitcoin Rights” bill into law appeared first on CoinJournal.

Veröffentlicht am

Pakistan unveils new ‘crypto council’ amid push for regulation

  • Pakistan wants to streamline crypto regulation and oversight.
  • The Pakistan Crypto Council (PCC) will help align the country’s crypto ecosystem with global trends.

Pakistan has established the Pakistan Crypto Council (PCC) to oversee the adoption and regulation of blockchain technology and digital assets.

According to details, the PCC will help advance crypto adoption within the country’s financial ecosystem.

Senator Muhammad Aurangzeb, Pakistan’s Finance Minister will chair the PCC, with the team including the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Federal Law and IT Secretaries.

At a February meeting on digital assets, Aurangzeb emphasized the significance of Pakistan developing a well-regulated digital asset framework. According to the government, this is what will align the country with international best practices. This will also add to compliance with the Financial Action Task Force (FATF) guidelines.

This and the announcement on March 15 signals a dramatic reversal from the nation’s prior stance, which barred cryptocurrency due to concerns over money laundering and terror financing.

Amid this latest move, Pakistan looks focused on becoming one of the crypto innovation and adoption hubs.

Pakistan’s shift comes as the country ranks among the top nations for crypto adoption, boasting approximately 20 million active users and over $20 billion in transactions annually.

The nation’s $35 billion remittance market stands to gain significantly from this pivot.

It’s one of PCC’s agenda that the country moves towards crafting clear regulatory guidelines, collaborating with global blockchain entities, and prioritizing consumer protection and financial security through a strong legal framework.

Pakistan eyes clear crypto framework

Pakistan is taking the big move follows Saqib’s appointment, which the Ministry of Finance hailed as “a significant step forward.”

Together, these initiatives will help harness digital currencies’ potential while mitigating risks. The PCC mandate seeks to balance innovation with accountability, aligning Pakistan with international trends in digital finance and reinforcing its economic ambitions on the world stage.

Across the globe, the United States recently created a strategic bitcoin reserve, held an inaugural White House crypto summit and has new pro-crypto leadership at key government agencies.

Meanwhile, the European Union’s Markets in Crypto-Assets (MiCA) is in full effect and Russia is reportedly tapping into crypto for oil trade.

The post Pakistan unveils new ‘crypto council’ amid push for regulation appeared first on CoinJournal.

Veröffentlicht am

Ripple Secures DFSA License in the UAE

  • Ripple has secured a major license in the Middle East after getting regulatory nod from the Dubai Financial Services Authority (DFSA).
  • The license allows Ripple to offer regulated crypto payments and services within the Dubai International Finance Centre (DIFC).

Ripple announced on March 13, 2025 that it had secured a major license in the Middle East.

The Dubai Financial Services Authority (DFSA) has greenlit Ripple to offer regulated crypto payments and services within the Dubai International Finance Centre (DIFC).

Ripple becomes the first blockchain-enabled payments provider to snag this crucial DFSA license.

Ripple secures license in Middle East milestone

This DFSA approval marks another of Ripple’s footprint in the Middle East, with this adding to a presence that includes major partnerships in the region.

It enhances the XRP creator’s recognition and aligns with Ripple’s plans to add to its global customer base. The license also means a potentially massive opportunity for XRP adoption.

“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption,” said Brad Garlinghouse, chief executive officer of Ripple. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”

A 2024 Ripple survey found 64% of finance leaders in the Middle East and Africa (MEA) see faster payments as the killer app for blockchain-based currencies. No surprise, then, that over 82% of MEA finance bosses say they’re “very or extremely confident” about integrating this tech into their operations.

“Dubai and the broader UAE have established themselves as leaders in fostering a progressive and well-defined regulatory framework for digital assets,” said Reece Merrick, Ripple’s managing director for Middle East and Africa.

Merrick added;

“Securing this DFSA license is a major milestone that will enable us to better serve the growing demand for faster, cheaper and more transparent cross-border transactions in one of the world’s largest cross-border payments hubs.”

This license will be great for Ripple’s stablecoin RLUSD, which the company launched late last year. Like other stablecoins, RLUSD could supercharge crypto adoption in the UAE, with users accessing real-time settlement for cross-border payments and remittances.

The post Ripple Secures DFSA License in the UAE appeared first on CoinJournal.

Veröffentlicht am

Matrixport subsidiary Fly Wing receives Major Payment Institution License from MAS in Singapore

  • Fly Wing, a Matrixport subsidiary, has gotten an MPI License from MAS.
  • The license will bolster Fly Wing’s OTC crypto services in Singapore.
  • Matrixport aims to expand digital finance in the Asia-Pacific.

Fly Wing Technologies Pte Ltd (“Fly Wing”), a wholly owned subsidiary of Matrixport, the world’s leading and largest one-stop crypto financial services platform in Asia, today announced that it has been granted the Major Payment Institution (“MPI”) License by the Monetary Authority of Singapore (“MAS”).

With this license approval, Fly Wing will continue building its role as a trusted Over-the-Counter (“OTC”) desk in Singapore. This license follows the in-principle approval received in October, underscoring Fly Wing’s commitment to regulatory compliance and operational excellence.

John Ge, Co-founder and CEO of Matrixport, stated, “We are thrilled that Fly Wing has received its license from the MAS. This marks a significant step in our ongoing expansion across the Asia-Pacific region. We look forward to providing high-quality Digital Payment Token services to users in Singapore.”

Having received its license from the MAS, Fly Wing is well-positioned to build a strong foundation for its long-term growth, driving continuous innovation in the digital finance sector. Moving forward, Fly Wing will continue to offer innovative Digital Payment Token services securely and transparently and will continue to optimize blockchain-driven Digital Payment Token services, enabling seamless access for users entering the Web 3.0 industry.

About Fly Wing Technologies Pte Ltd

Founded in 2019, Fly Wing Technologies Pte. Ltd. (“Fly Wing”) is a wholly owned subsidiary of Matrixport, a leading digital asset financial services platform in Asia.

Fly Wing serves a diverse clientele, including crypto miners, trading firms, investment firms, and high-net-worth individuals from both crypto and traditional finance. The company engages in OTC services for customers to on- and off-ramp Digital Payment Tokens, facilitating over $100 million in monthly transactions and providing liquidity for major cryptocurrencies.

Fly Wing has received the MPI License from MAS to provide Digital Payment Token services for OTC trading in Singapore.

Fly Wing official website: https://www.flywing.com/

About Matrixport

Founded in 2019, Matrixport is the world’s leading all-in-one hub for crypto financial services. The platform is committed to providing every user with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research and more. With $6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.

As a Group and through its local subsidiaries, Matrixport has received the Trust or Company Service Provider / Money Lender Licenses in Hong Kong and the FINMA Asset Management License in Switzerland. The company operates as an Appointed Representative in the UK, is registered as an MSB in the US, and is a member of Switzerland’s FINMA SRO-VFQ.

Matrixport was recognized by CB Insights as one of the “50 Most Promising Blockchain Companies” and was featured in the Hurun “2024 Global Unicorn List.” Its subsidiary, Fly Wing, has received the MPI License from MAS in Singapore.

Matrixport official website: https://www.matrixport.com

The post Matrixport subsidiary Fly Wing receives Major Payment Institution License from MAS in Singapore appeared first on CoinJournal.

Veröffentlicht am

Coinbase asks SEC for breakdown of cost of Gensler’s war on crypto

  • Coinbase goes after SEC for details on cost of war on crypto.
  • The exchange has filed a FOIA request asking for SEC’s documents during the leadership of former SEC chair Gary Gensler.

Coinbase has filed for a Freedom of Information Act (FOIA) request that seeks a detailed breakdown of what the US Securities and Exchange Commission (SEC) spend on its “war on crypto.”

Specifically, the crypto exchange’s FOIA wants it made public just how much the SEC splashed as part of its regulation by enforcement approach to crypto between April 2021 and January 2025.

Coinbase outlines what it seeks in a filing on Monday, March 3, 2025.

What else is Coinbase seeking via this FOIA request?

The exchange wants to know how much the SEC spent on investigations, lawsuits and enforcement unit employees. Per the request, the regulator should provide the costs involved as it pursued digital asset related cases, secondary transactions, and staking and lending providers.

“We know the previous SEC’s regulation-by-enforcement approach cost Americans innovation, global leadership, and jobs, but how much did it cost in taxpayer dollars? Today, Coinbase submitted a FOIA request asking the SEC to explain how much its war on crypto cost taxpayers,” Coinbase chief legal officer Paul Grewal noted.

He added:

“What do we hope to find out? How many investigations and enforcement actions were brought – and how much they cost; how many employees worked on these investigations/enforcement actions – and how much they cost; how many third-party contractors were used in these investigations/enforcement actions – and how much they cost,” the Coinbase CLO added in a post on X.

The request comes amid a recent spree of announcements regarding the SEC’s dropping of several crypto cases and investigations. It includes the regulator’s lawsuit against Coinbase and the crypto exchange Gemini.

SEC, under a new leadership following Gary Genser’s exit in January 2025, has also closed investigations against Opensea, Robinhood, Uniswap and MetaMask.

According to Grewal, the FOIA request is down to the need for transparency, with American taxpayers having the right to know. Coinbase believes the current SEC leadership will provide the information.

The post Coinbase asks SEC for breakdown of cost of Gensler’s war on crypto appeared first on CoinJournal.