A “state-managed investment fund focused on Bitcoin and other high-market-cap cryptocurrencies …” was introduced to Texas legislators this week as Senate Bill 21 (SB 21); a bill colloquially referred to as “The Texas Bitcoin Reserve Act.”

SB 21 was sponsored by State Sen. Charles Schwertner (R-Georgetown), as revealed by in-depth coverage from Texas Policy Research (TPR), a pro-liberty legislative analysis nonprofit organization.

Texas Policy Research’s coverage of the state’s second proposed bitcoin bill, introduced Feb. 18.

TPR previously reported that in January, Lt. Gov. Dan Patrick (R) listed his Key Legislative Priorities for the Texas Senate’s…

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Binance.US has successfully relaunched U.S. dollar deposit and withdrawal services marking a major rebound since their suspension in June 2023 due to regulatory challenges. The resumption of fiat services allows eligible users to engage in USD transactions through bank transfers and to trade using USD-crypto pairs enhancing the platform’s usability and accessibility.

Amidst a legal battle with the U.S. Securities and Exchange Commission over alleged securities law violations the platform had shifted to a crypto-only exchange model. This move had previously restricted users’ ability to perform fiat transactions which are now fully restored following significant compliance efforts and constructive dialogue with regulatory bodies.

This restoration not only signifies Binance.US’s compliance strides but also mirrors a potentially more accommodating regulatory environment under the new U.S. administration fostering optimism within the crypto community. The platform’s proactive adjustments and ongoing negotiations with the SEC suggest a forward-moving trajectory aiming to stabilize and expand crypto market accessibility.

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The news of USDT (Tether) coming to Bitcoin and Lightning via Taproot Assets has been met with various reactions.

Some believe it’s good for Bitcoin (most, actually, based on a small survey I conducted on X; yes, I know the sample size isn’t large enough for the results to be significant. I’M SHARING IT ANYWAY), while others aren’t so enthused about it.

Tether (USDT) on Bitcoin and Lightning is:(Please share why in the comments and…

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Czech National Bank (CNB) Governor Aleš Michl has proposed studying Bitcoin as a potential reserve asset. While warning about the risks of crypto investments, he emphasized that Bitcoin is distinct from other digital assets and should not be dismissed. He believes that understanding Bitcoin’s underlying technology can strengthen financial institutions rather than harm them.

The CNB Bank Board approved an initial proposal to analyze the feasibility of creating a Bitcoin test portfolio. Michl highlighted Bitcoin’s volatility, acknowledging that its value could either skyrocket or drop to zero. He stressed that Bitcoin remains a high-risk asset suitable for professional investors aware of its potential risks and rewards.

A final decision will depend on the results of the study and further discussions within the Bank Board. No immediate changes will be made, but this step signals the Czech Republic’s openness to exploring Bitcoin as part of its financial strategy.

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The SEC has officially begun reviewing a proposal for a spot XRP ETF submitted by Bitwise through the Cboe BZX Exchange as of February 6. This review opens the door to potentially adding the XRP ETF to regulated trading platforms offering direct exposure to the digital currency.

Approval of this ETF would mark a significant advancement for XRP distinguished by its primary use in fast low-cost international payments. It follows recent approvals for Bitcoin and Ethereum spot ETFs showcasing a growing acceptance of cryptocurrencies within traditional financial markets.

The ETF aims to combine regulatory oversight with ease of access for investors eliminating the need for self-custody and enhancing price transparency and liquidity. This could lead to competitive management fees and make it easier for both seasoned and new investors to enter the cryptocurrency market.

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Bank of New York Mellon now holds over $13 million in Bitcoin exchange-traded funds (ETFs) showcasing significant institutional interest in cryptocurrency investments. The holdings are spread across 115108 shares of WisdomTree Bitcoin Fund valued at roughly $11.87 million and 25309 shares of BlackRock’s iShares Bitcoin Trust approximately worth $1.4 million.

The move aligns BNY with other financial giants like JPMorgan Chase and Goldman Sachs who also have substantial investments in crypto ETFs. JPMorgan holds nearly $1 million while Goldman Sachs possesses around $1.63 billion in Bitcoin ETF shares alongside $196.3 million in Ethereum ETF shares.

This trend underlines a growing acceptance of cryptocurrency as a viable investment by major banks especially following the SEC’s approval of Bitcoin and Ethereum-based ETFs last year. The initiative allows investors to gain exposure to these leading digital assets without the need for direct purchase signaling a pivotal shift in the integration of cryptocurrencies into traditional finance.

SEC filing