Tag Archives: introduce

US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserve

US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserve

A new bill set to be introduced in Congress aims to formalize President Donald Trump’s executive order establishing a US Strategic Bitcoin Reserve, a move that could further integrate Bitcoin into the nation’s financial strategy.

Trump signed an executive order on March 7 to use Bitcoin seized in government criminal cases to establish a national reserve.

The legislation, introduced by US Representative Byron Donalds, seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.

“For years, the Democrats waged war on crypto,” Donalds, a Florida Republican, said in a statement to Bloomberg. “Now is the time for Congressional Republicans to decisively end this war.”

If the bill is passed, it would ensure that the Strategic Bitcoin Reserve and the US Digital Asset Stockpile could not be eliminated via executive actions by a future administration.

The bill will require at least 60 votes in the Senate and a House majority to pass. With Republicans holding a Senate majority — and a generally more crypto-friendly stance —the bill has a chance of passing.

According to Bitcoinlaws data, at least 23 US states have introduced legislation supporting a Bitcoin reserve, reflecting growing state-level interest in integrating crypto into fiscal policy.

A “pivotal moment” for US crypto regulations

The introduction of the Bitcoin reserve-related bill marks a pivotal moment for the wider crypto industry, not just BTC.

The legislation “aims to cement the reserve as a permanent fixture, shielding it from reversal by future administrations,” according to Anndy Lian, author and intergovernmental blockchain expert.

The bill signals the US government’s intent to integrate Bitcoin into its financial framework, Lian told Cointelegraph, adding:

“It builds on Trump’s earlier executive action by providing a statutory backbone, potentially clarifying the government’s stance on digital assets. If passed, the bill could reduce uncertainty that has long plagued the crypto space, where agencies like the SEC and CFTC have often clashed over jurisdiction.”

“A codified reserve might encourage a more cohesive regulatory approach, offering businesses and investors a clearer path forward,” he added.

However, identifying the right funding mechanisms and custody solutions for the Bitcoin reserve is a challenging step for governmental entities that may delay the fund’s creation.

Donalds’ bill may also provide more clarity on the government’s future Bitcoin acquisition strategies. Although the current plan does not involve government Bitcoin purchases, the order does not rule them out in the future.

The order authorizes the US Treasury and Commerce secretaries to develop “budget-neutral strategies” to buy more Bitcoin for the reserve, provided there are no additional costs to taxpayers.

 

Source: https://cointelegraph.com/news/trump-bitcoin-reserve-bill-congress

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Kentucky joins growing list of US states to introduce Bitcoin reserve bill

Kentucky joins growing list of US states to introduce Bitcoin reserve bill

Kentucky has become the 16th US state to introduce legislation aimed at establishing a Bitcoin reserve, highlighting the growing adoption of digital assets at the state level.

The bill, KY HB376, was introduced by Kentucky State Representative Theodore Joseph Roberts on Feb. 6. If passed, it would authorize the State Investment Commission to allocate up to 10% of excess state reserves into digital assets, including Bitcoin. It states:

“The total amount of excess cash invested under subsection (9)(k), (l), and (m) of this section shall not, at the time of the investment is made, exceed ten percent (10%) of the total amount of excess cash invested under subsection (9) of this section.”

While the bill doesn’t mention particular cryptocurrencies, its criteria refer to digital assets other than stablecoins with a market capitalization of over $750 billion, which is averaged over the previous calendar year.

Bitcoin is the only cryptocurrency to fall under this criteria with its $1.9 trillion market capitalization. In comparison, Ether’s $330 billion market cap would need to grow over twofold to qualify for the potential reserve.

Kentucky became the 16th state in the US to introduce legislation for a Bitcoin reserve, following Arizona, Alabama, Florida, Massachusets, Missouri, New Hampshire, North Dakota,  South Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, Kansas and Wyoming.

Kentucky’s move may set a precedent for a federal Bitcoin reserve

As the 16th state to consider such regulation, Kentucky’s move may set a precedent for a federal-level strategic Bitcoin reserve, according to Anndy Lian, author and intergovernmental blockchain expert.

“If Kentucky moves forward, it creates a roadmap for others to follow,” Lian told Cointelegraph, adding:

“The SEC, the Fed, and even Congress will have to grapple with how to classify Bitcoin in public reserves — is it a commodity? A security? Something entirely new? This could accelerate regulatory clarity, but it also risks creating a patchwork of state-level rules that complicate national policy.

“Let’s not forget the consumer protection angle: if Bitcoin’s volatility tanks, taxpayers could be on the hook, which raises serious governance questions,” he added.

Despite the volatility-related concerns, Kentucky’s bill is a “massive vote of confidence in Bitcoin,” which could inspire more adoption, Lian said, adding:

“It could drive institutional interest through the roof, pushing other states and even countries to consider similar moves. But adoption isn’t just about price; it’s about infrastructure. Kentucky will need robust custody solutions, cybersecurity measures, and a clear exit strategy if things go south.”

Kentucky’s bill comes a week after the state of Illinois announced plans for a Bitcoin reserve bill that proposed a minimum BTC holding strategy of five years.

 

Source: https://cointelegraph.com/news/kentucky-introduces-bitcoin-reserve-bill-as-16th-state-to-pursue-btc-reserves

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Bybit and Oracle Red Bull Racing Introduce The Velocity Series

Bybit and Oracle Red Bull Racing Introduce The Velocity Series
Bybit, the world’s third most visited cryptocurrency exchange, is delighted to introduce the Velocity Series, an unprecedented collaboration between Bybit, Oracle Red Bull Racing, and renowned digital artists. This initiative will merge art and racing by creating unique digital collectibles inspired by race team data and telemetry from the RB19 F1 car.
The Velocity Series represents the first-ever collaboration between an F1 team and a star-studded lineup of digital artists. These artists have all achieved remarkable success, and have been universally praised by creators and collectors alike for their exceptional talent. The series starts with Rik Oostenbroek, a renowned Dutch artist known for his dynamic shapes and abstract forms across a multi-disciplinary approach.
Curated in collaboration with AOI, a foundation for emerging art and technology, the series consists of four releases coinciding with the Dutch, Japan, United States, and Abu Dhabi Grand Prix throughout the 2023 Formula 1 season (specific drop dates may be subject to change). Each release features a range of NFT collections, including a limited-edition NFT collection exclusively accessible to holders of the Velocity Pass, and a publicly available open-edition sale.
The first of its kind by a motorsport team, the Velocity Pass is a dynamic work of art that will evolve over the course of the season. The pass is also a premium NFT that grants art enthusiasts front-row access to the ongoing narrative of the Velocity Series, providing its holders with a wide range of utilities.
At each of the four Velocity Series releases, pass holders can participate in a holder-exclusive NFT sale to secure digital masterpieces by the featured artists. Pass holders will also receive a complimentary open-edition NFT at each of the four releases, adding extra value to their collection. Moreover, pass holders will gain access to Oracle Red Bull Racing experiences, and chances to win rare prizes from Oracle Red Bull Racing and Bybit.
Head of Fan Engagement from Oracle Red Bull Racing, Caroline Buckland said, “We are extremely excited about teaming up with Bybit and this group of hugely talented artists for the Velocity Series. The NFTs released as part of the series are limited editions and truly capture the essence of the Team’s prowess and progressive performance. Each collection is unique to the artists’ particular style, making them highly sought after by collectors and fans.”
“As long-term and strategic partners, Bybit and Oracle Red Bull Racing are excited to launch the Velocity Series, which brings together the creative talents of some of the world’s best digital artists with cutting-edge technology, enabling us to leverage our respective strengths and further advance our position in the rapidly-evolving Web3 era,” said Anndy Lian, Head of Partnerships at Bybit. “The Velocity Series represents a unique opportunity to engage with our customers and fans, and we are excited to empower even more creativity through this collaboration.”
This collaboration showcases the intersection of cutting-edge innovation and creative expression, offering a unique opportunity for art enthusiasts, collectors, and racing fans to engage with this unique fusion of art and racing data.
For more information and updates about the Velocity Series, please visit Bybit’s official website.
Connect with Bybit on social: Twitter | Instagram | Facebook | YouTube | LinkedIn | TikTok | Reddit

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j