Ripple co-founder donates $1 million in XRP to Harris campaign

North Carolina (NC) representative Neal Jackson introduced the North Carolina Digital Asset Freedom Act on April 10. The bill proposes that qualifying “digital assets” be accepted as a legally recognized form of payment and for taxes.Although the language of the bill does not specifically mention Bitcoin (BTC), there are several provisions laid out that make BTC uniquely qualified under the bill’s definition of a “digital asset.”These stipulations include a minimum market capitalization of $750 billion and a daily trading volume of over $10 billion, a market history of 10 years or more, proven censorship resistance, proof-of-work consensus, lack of a central authority, 99.98% or more network uptime, and a maximum supply cap. The bill read:”The General Assembly further finds that decentralized digital assets, which are not governed by any central entity or foundation, align with the economic principles of limited, noninflationary money and are capable of ensuring the security and integrity of transactions.”Jackson’s bill is merely the latest in state-led Bitcoin strategic reserve legislation in the United States amid inflation concerns, high US federal debt and a depreciating currency.NC Digital Asset Freedom Act. Source: North Carolina LegislatureRelated: North Carolina bills would add crypto to state’s retirement systemNorth Carolina takes a firm stance against CBDCsFormer North Carolina Governor Roy Cooper vetoed a bill banning a central bank digital currency (CBDC) in July 2024. At the time, Cooper characterized the bill as “premature, vague, and reactionary” to threats that have not yet materialized.In August 2024, the North Carolina House of Representatives overrode Cooper’s veto in a definitive and bipartisan 73-41 vote.The North Carolina Senate followed suit by overriding Cooper’s veto in a 27-17 vote and passed the anti-CBDC legislation into law in September 2024.North Carolina’s anti-CBDC legislation. Source: North Carolina Legislature Dan Spuller, the head of industry affairs at crypto advocacy organization the Blockchain Association, applauded the action taken by NC lawmakers to push back against the tide of CBDCs.”This bill should have never been vetoed, and Governor Cooper blew an opportunity to send a strong message to the Federal Reserve that NC stands united against CBDCs,” Spuller wrote in a Sept. 9 X post.Magazine: Bitcoiner sex trap extortion? BTS firm’s blockchain disaster: Asia Express

Cryptocurrency exchange HashKey has received approval from Hong Kong regulators to offer staking services, potentially broadening the institutional appeal of proof-of-stake investments such as the spot Ether exchange-traded funds (ETFs).HashKey was granted approval on April 10 after the Hong Kong Securities and Futures Commission (SFC) provided regulatory guidance on staking services to Licensed Virtual Asset Trading Platforms (VATPs) and authorized funds, the company disclosed on social media. HashKey said it had become “one of the first” regulated Hong Kong exchanges to offer staking services.Source: HashKey GroupThe approval was granted after the China Securities Regulatory Commission (CSRC) recognized the potential benefits of crypto staking services, the SFC said.CSRC “is aware of the potential benefits of staking in enhancing the security of blockchain networks and allowing investors to earn returns from virtual assets in a regulated market environment,” the SFC said, according to a translated version of the announcement that appeared on Asian media outlet PANews. Related: Crypto VCs are ‘especially bullish’ on DePIN, RWAs — HashKey CapitalTaking the lead on ETH stakingThe SFC approval means HashKey can take the lead in offering staking services for spot Ether (ETH) ETFs, according to the exchange’s managing director, Terence Pu.“In the near future, investors will not only be able to hold Ether ETFs to obtain staking income but also directly hold ETH and obtain additional income through our staking services,” Hu said in a translated version of his statement. Hong Kong approved its first Ether and Bitcoin (BTC) ETFs in April of last year, giving institutional investors access to an in-kind subscription model for digital assets.Hong Kong is ahead of the curve in allowing ETF investors to earn a passive yield on their digital assets. In the United States, the Securities and Exchange Commission (SEC) green-lighted spot Ether ETFs last year but did not allow staking strategies to be included.For many US investors, staking is the missing link that could make US-based Ether ETFs more attractive to institutional investors. With the election of US President Donald Trump and the installation of a pro-crypto SEC Chair, investors are growing confident that staking services are coming to the US Ether ETFs in the near future. Source: James SeyyfartBased on Bloomberg analyst James Seyffart’s potential timeline, approvals could be granted as early as May.Magazine: ‘Hong Kong’s FTX’ victims win lawsuit, bankers bash stablecoins: Asia Express

Escalating geopolitical tensions threaten to balkanize blockchain networks and restrict users’ access, crypto executives told Cointelegraph. On April 9, US President Donald Trump announced a pause in the rollout of tariffs imposed on certain countries — but the prospect of a global trade war still looms, especially because Trump still wants to charge a 125% levy on Chinese imports. Industry executives said they fear a litany of potential consequences if tensions worsen, including disruptions to blockchain networks’ physical infrastructure, regulatory fragmentation, and censorship. “Aggressive tariffs and retaliatory trade policies could create obstacles for node operators, validators, and other core participants in blockchain networks,” Nicholas Roberts-Huntley, CEO of Concrete & Glow Finance, told Cointelegraph. “In moments of global uncertainty, the infrastructure supporting crypto, not just the assets themselves, can become collateral damage.”According to data from CoinMarketCap, cryptocurrency’s total market capitalization dropped approximately 4% on April 10 as traders weighed conflicting messages from the White House on tariffs amid a backdrop of macroeconomic unease. Crypto’s market cap retraced on April 10. Source: CoinMarketCapRelated: Trade tensions to speed institutional crypto adoption — ExecsBitcoin’s vulnerabilitiesBitcoin (BTC) is especially vulnerable to a trade war since the network depends on specialized hardware for Bitcoin mining, such as the ASIC chips used to solve the network’s cryptographic proofs. “Tariffs disrupt established ASIC supply chains,” David Siemer, CEO of Wave Digital Assets, told Cointelegraph. Chinese manufacturers such as Bitmain are key suppliers for miners.However, “the greater threat is the erosion of blockchain’s core value proposition—its global, permissionless infrastructure,” Siemer said. This could be especially problematic for everyday crypto holders. “If global trade breaks down and capital controls tighten, it may become harder for citizens in restrictive countries to acquire bitcoin,” said Joe Kelly, CEO of Unchained. “Governments could crack down on exchanges and on-ramps, making accumulation and usage more difficult,” Kelly added.Bitcoin’s performance versus stocks. Source: 21SharesIronically, these types of fears also underscore the importance of cryptocurrencies and decentralized blockchain networks, the executives said. Bitcoin has already shown “signs of resilience” amid the market turbulence, highlighting the coin’s role in hedging against geopolitical risks. “While the environment is challenging, it also creates an opening for crypto to prove its long-term value and utility on the global stage,” noted Fireblocks’ executive Neil Chopra.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research