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becky cuteface
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Trader after 5 years of cryptocurrency 🙃😁👇😄🙃🙃😄👇😄👇
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#EUPrivacyCoinBan Arizona’s chance to pioneer crypto-driven public finance was abruptly halted as the governor axed a game-changing bill that would’ve let state retirement funds buy bitcoin. Arizona Governor Kills Bitcoin Bill for Public Crypto Investment Arizona Governor Katie Hobbs vetoed Senate Bill 1025 on May 2, blocking a legislative proposal that would have allowed public funds—including state retirement systems—to invest in bitcoin and other cryptocurrencies. The bill, formally titled the “Arizona Strategic Bitcoin Reserve Act,” sought to amend Title 35, Chapter 2 of the Arizona Revised Statutes by adding Article 2.2. It would have enabled public funds to allocate up to 10% of their portfolios to digital assets and outlined provisions for storing such holdings in a future federal strategic bitcoin reserve if established by the U.S. Treasury. Hobbs justified her decision in a letter to Senate President Warren Petersen, reiterating her stance on maintaining conservative investment practices for the state’s retirement system. She wrote: Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments. Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency. The proposed legislation defined virtual currency as a digital representation of value used as a medium of exchange, unit of account, and store of value, excluding any representation of U.S. or foreign fiat currency. $STPT $PORTO $ACM
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#BinanceAlphaAlert Crypto needs a stablecoin bill On April 27, Caitlin Long, founder and CEO of Custodia Bank, criticized the US Federal Reserve for quietly maintaining a key anti-crypto policy that favors big-bank-issued stablecoins, despite relaxing crypto partnership rules for banks. Long explained that while the Fed recently rescinded four prior crypto guidelines, a Jan. 27, 2023, statement was left intact in coordination with the Biden administration. The guidance, according to Long, blocks banks from engaging directly with crypto assets and prohibits them from issuing stablecoins on permissionless blockchains. However, Long noted that once a federal stablecoin bill becomes law, it could override the Fed’s stance. “Congress should hurry up,” she urged. $ACM $PORTO
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#BinanceHODLerSTO A group of US Senate Democrats known for supporting the crypto industry have said they would oppose a Republican-led stablecoin bill if it moves forward in its current form. The move threatens to stall legislation that could establish the first US regulatory framework for stablecoins, according to a May 3 report from Politico. Per the report, nine Senate Democrats said in a joint statement that the bill “still has numerous issues that must be addressed.” They warned they would not support a procedural vote to advance the legislation unless changes are made. Among the signatories were Senators Ruben Gallego, Mark Warner, Lisa Blunt Rochester and Andy Kim — all of whom had previously backed the bill when it passed through the Senate Banking Committee in March. The bill, introduced by Senator Bill Hagerty, is formally known as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. $STPT $1000CHEEMS
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