Judge dismisses Debt Box case, orders SEC to pay $1.8M in fees

The civil lawsuit initially filed by the commission in 2023 ended on May 28, with a judge ordering the SEC to pay attorney and receivership fees.

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Utah Senate Passes Bitcoin Bill, Eliminates Crucial Provision

The Utah Senate has recently approved a bill related to Bitcoin, marking a significant step forward in the state’s cryptocurrency regulations. However, during the legislative process, a crucial reserve clause was removed from the bill. This development shows the growing interest and acceptance of digital currencies like Bitcoin in the mainstream financial sector. Utah’s move [...]

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Utah DAO Act: How the law was made and what it means for decentralized business

How the Utah DAO Act went from an idea to a piece of legislation — and the challenges along the way.

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Utah Passes Law Recognizing Decentralized Autonomous Organizations

The Utah State Legislature has passed the Utah Decentralized Autonomous Organizations Act, providing legal recognition and limited liability to DAOs, also known as "Utah LLDs". The act defines ownership, protects anonymity, and introduces quality assurance protocols. (Read More)

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Utah Leads the Way with Proposed Bitcoin Reserve Legislation

Utah Leads in Potentially Passing Bitcoin Reserve Legislation A bill circulating in Utah could pave the way for state agencies to start holding Bitcoin as part of their reserves. This move is significant as Utah would be one of the first states in the US to take this step in embracing the digital currency. The [...]

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Utah on the Verge of Making History with Bitcoin Reserve Bill: Satoshi Action Fund Leads the Way

The CEO of the Satoshi Action Fund has made a bold prediction that Utah could be the first state to establish a Bitcoin reserve. This move could potentially have significant implications for the cryptocurrency market and further cement Bitcoin’s position as a legitimate asset class. In a recent interview, the CEO highlighted Utah’s favorable regulatory [...]

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Utah Leads 20 US States Aiming To Launch State-Level Bitcoin Reserves, While Trump's 'Crypto Task Force' Finalizes Federal Bitcoin Reserve Plans...

The race to integrate Bitcoin into state treasuries is heating up. So far, 20 U.S. states have introduced bills aiming to accumulate BTC as a financial assetbut Utah is pulling ahead with real legislative momentum.

A new bill, HB 230, just cleared a major hurdle. The Digital Innovation and Blockchain Amendments bill, which could allow the state treasurer to allocate public funds into Bitcoin, has now been formally introduced to the Utah Senates Revenue and Taxation Committee.

Back in January, the bill passed Utahs House of Representatives with an 8-1 vote, and on February 7, it advanced to the Senate for its first reading. If enacted, up to 5% of Utahs state funds could be invested in qualified digital assetsa category that, under the bills criteria, currently includes only one cryptocurrency: Bitcoin.

Utah's HB 230 isnt just about buying Bitcoin...

It also lays the groundwork for regulatory oversight, custody protocols, and even permits the treasurer to engage in staking and lending of crypto assets under certain conditions. Additionally, the bill introduces new rules around stablecoin investments, reflecting the broader push to formalize crypto within government finance. The proposal is spearheaded by Utah Rep. Jordan Teuscher.

If it keeps gaining traction, the bill could take effect on May 7, 2025. And according to Dennis Porter, CEO of Satoshi Action Fund, Utah is positioned to be the first U.S. state with an official Bitcoin treasury, thanks to its tight 45-day legislative session.

This state-level push follows Donald Trump has floating the idea of a Federal Bitcoin Reserve - his 'crypto task force' is already exploring ways to make it happen. In an interview with Bloomberg President Trump says he believes that if the U.S. doesnt move fast, rival nations will.

As Utah moves forward, all eyes are on whether this bill will set a precedent for other states looking to put Bitcoin on their balance sheets.

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Author: Ross Davis
Silicon Valley Newsroom
GCP | Breaking Crypto News

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Utah Bitcoin Reserve Bill Advances to Second Senate Reading

The Utah Bitcoin Reserve Bill is progressing to a second reading in the Senate as it gains momentum. This bill aims to establish a framework for the state to hold and manage a reserve of Bitcoin. If successful, Utah will become one of the first states to have a Bitcoin reserve. The bill was introduced [...]

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Texas Reintroduces Bold Bitcoin Reserve Bill, SB 21 to Boost Financial Growth

In a bold move, Texas reintroduces its Strategic Bitcoin Reserve bill to allow the state to diversify investments in digital assets. This expansion paves the way for Texas to lead in economic resilience and secure financial growth through blockchain technology. Texas Expands Bitcoin Reserve Bill Texas has reintroduced a bill to establish a Strategic Bitcoin […]

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Bipartisan support for crypto is fragile Congressman John Curtis

71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SECs SAB-121 guidelines from earlier this year.

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