The Arizona Senate has passed a bill allowing state agencies to accept cryptocurrency for fines, taxes, and fees, marking it as the second state after Utah to pass such a law. The bill, if fully approved by the state legislature, will await the governor's signature to become law, demonstrating rapid progress in the acceptance of cryptocurrency at the state level. This legislative move reflects the growing trend of integrating digital currency into the state's financial system, potentially related to the policies of other states regarding the use of cryptocurrency. $BTC
The 'Bitcoin' NY SB 4728 bill from the state of New York aims to establish a task force to study the impact of cryptocurrency, reflecting the growing trend of state-level interest in the regulation and integration of cryptocurrency. This legislative move aligns with broader efforts in the United States to integrate Bitcoin into state financial strategies, emphasizing a shift towards recognizing cryptocurrency in official capacities. A United Nations study from 2024 highlighted the environmental impact of Bitcoin, which may relate to the task force's focus on environmental impacts, due to the significant energy consumption associated with Bitcoin mining. $BTC $ETH
Head Of U.S. Consumer Financial Protection Bureau Resigns
According to Odaily, the head of the Enforcement and Supervision Division at the U.S. Consumer Financial Protection Bureau has announced their resignation. U.S. Federal Reserve Chair Jerome Powell stated that no other federal regulatory body can fulfill the role of the Consumer Financial Protection Bureau.
Eric Trump, son of former U.S. President Donald Trump, has publicly proposed investing in Bitcoin (BTC) and Ethereum (ETH) on X, indicating a notable shift of a politician's family into the cryptocurrency space, which is unusual and remarkable.
UBS, the largest bank in Switzerland, is experimenting with "UBS Key4 Gold" on the ZKsync Layer-2 network of Ethereum, integrating blockchain technology into traditional gold trading. This product allows customers to trade gold in the form of tokens, with real-time pricing, while physical gold is securely stored in a vault, providing a digital alternative to physical gold ownership. This initiative reflects a broader trend towards tokenization, where assets like gold are represented on the blockchain to enhance liquidity, accessibility, and security, aligning with the current market interest in integrating traditional assets with blockchain technology. $ETH $XRP