XRP’s role in US Digital Asset Stockpile raises questions on token utility — Does it belong?  

The North Dakota Senate has passed a bill that regulates crypto ATMs while re-adding a provision capping daily transactions at $2,000 per user that was originally dropped by the state’s House.The state’s Senate passed House Bill 1447 in a 45-to-1 vote on March 18. The bill was introduced to the state’s legislative assembly on Jan. 15 and aims to protect residents from scams by introducing a slate of new guidelines for crypto ATMs and their operators.The latest version of the bill passed by the Senate requires crypto ATM and kiosk operators to be licensed in the state as money transmitters, limits customer withdrawals across their network of ATMs to $2,000 per day, and issues fraud warning notices.Initially, the bill limited crypto ATM customer transactions to $1,000 a day, but a House committee last month loosened the limits, with a $2,000 a day limit for the first five transactions within 30 days.Now, the Senate has capped the transaction limits at $2,000. The bill will need to be sent back to the House to vote on the changes before North Dakota Governor Kelly Armstrong can either veto or sign the bill into law.The bill would also require operators to use blockchain analytics to monitor for suspicious activity, such as fraud, and report it to the authorities, and to provide quarterly reports on kiosk locations, names and transaction data.The latest version of House Bill 1447 requires local crypto ATM operators to be licensed in the state as money transmitters, among other requirements. Source: North Dakota Legislative AssemblyDuring a North Dakota House Industry, Business and Labor committee hearing on Jan. 22, the bill’s primary sponsor, House Representative Steve Swiontek, said that crypto ATMs currently lack protection measures, which has “allowed criminals to exploit them for theft.”Nebraska Governor Jim Pillen had signed similar legislation into law on March 13, the Controllable Electronic Record Fraud Prevention Act, which is designed to help combat fraud.Meanwhile, US Senator Dick Durbin of Illinois, who formerly chaired the Senate Judiciary Committee, proposed similar federal legislation on Feb. 25.Durbin cited a story from a constituent who fell prey to a scammer claiming the authorities had issued a warrant for their arrest but could pay a fine through a $15,000 deposit at a crypto ATM to avoid jail as motivation for introducing the new law. Related: ‘Victim-blaming’ Americans can deter crypto scams reporting — RegulatorLast September, the Federal Trade Commission reported fraud losses at Bitcoin (BTC) ATMs had increased nearly tenfold from 2020 to 2023 and topped $65 million in the first half of 2024, with consumers aged 60 and older three times more likely to fall victim.Coin ATM Radar data shows that the US still has the most Bitcoin ATMs, with 29,822 machines representing 78% of the global market.The United States is the world leader in the number of Bitcoin and crypto ATMs. Source: Coin ATM RadarCanada ranks second, at 9.2% of the market and 3,486 crypto ATMs, while Australia is third with 1,613 crypto ATMs, representing 4.3% of the market. Magazine: How crypto laws are changing across the world in 2025

Minnesota state Senator Jeremy Miller has introduced the Minnesota Bitcoin Act, which he drafted after completely changing his stance on Bitcoin.“As I do more research on cryptocurrency and hear from more and more constituents, I’ve gone from being highly skeptical to learning more about it, to believing in Bitcoin and other cryptocurrencies,” Miller said in a March 18 statement.Miller said the bill aims to “promote prosperity” for Minnesotans by allowing the Minnesota State Board of Investment to invest state assets in Bitcoin (BTC) and other cryptocurrencies, just as it invests in traditional assets.Several other US states have introduced similar Bitcoin-buying bills, with 23 states having introduced legislation to create a Bitcoin reserve, according to Bitcoin Laws.A total of 39 different bills related to state investments in Bitcoin have been introduced across 23 US states. Source: Bitcoin LawsUnder Miller’s bill, Minnesota state employees would be able to add Bitcoin and other cryptocurrencies to their retirement accounts.It would also give residents the option to pay state taxes and fees with Bitcoin. Colorado and Utah already accept crypto for tax payments, while Louisiana allows it for state services.Investment gains from Bitcoin and other cryptocurrencies would also be exempt from state income taxes. In the US, up to $10,000 paid to the state can be deducted from federal taxes under the state and local tax deduction, but any amount beyond that is subject to both state and federal tax obligations.Related: SEC could axe proposed Biden-era crypto custody rule, says acting chiefThe increasing number of US states proposing Bitcoin reserve bills follows Senator Cynthia Lummis’ July Strategic Bitcoin Reserve Act, which directs the federal government to buy 200,000 Bitcoin annually over five years, totaling 1 million Bitcoin.However, on March 12, Lummis proposed a newly reintroduced BITCOIN Act, allowing the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve.Bitcoin has shown significant gains compared to traditional assets in recent years. From August 2011 to January 2025, Bitcoin posted a compound annual growth rate of 102.36%, compared to the S&P 500’s 14.83%, according to Curvo data.Bitcoin’s compound annual growth rate is significantly higher than the S&P 500s. Source: CurvoMagazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, said comprehensive stablecoin legislation is expected to be finalized in the coming months, underscoring the government’s urgency to maintain the US dollar’s dominance in onchain activity. Speaking at the Digital Asset Summit in New York on March 18, Hines said stablecoin legislation is “imminent” following the Senate Banking Committee’s approval of the GENIUS Act last week. The GENIUS Act, which is an acronym for Guiding and Establishing National Innovation for US Stablecoins, establishes collateralization guidelines for stablecoin issuers and requires full compliance with Anti-Money Laundering laws. “We saw that vote come out of the Senate Banking Committee in extremely bipartisan fashion, […] which was fantastic to see,” said Hines, adding:“I think our colleagues on the other side of the aisle also recognize the importance for US dominance in this space, and they’re willing to work with us here, and that’s what’s really exciting about this. You know, there’s not many issues in Washington, DC, in which folks can come together from both sides of the aisle and really propel the United States forward in a way that’s comprehensive.”Bo Hines (right) speaking at the Digital Asset Summit on March 18. Source: CointelegraphWhen asked about when stablecoin legislation will be passed, Hines said, “I think that stables could be on the president’s desk here in the next two months.”Right now, the market seems to be underestimating what this bill “could do for the US economy in terms of US dollar dominance, in terms of payment rails, in terms of altering the course of financial markets,” said Hines.Related: Banks push to block stablecoin legislation over market share fearsExtending the dollar’s hegemonyThe US dollar accounts for the vast majority of the $230 billion worth of stablecoins in circulation, suggesting that the greenback remains the currency of choice for funding cryptocurrency accounts and sending remittances overseas. Some industry experts believe this will change in the future as stablecoins become multicurrency, but so far, digital dollars remain the overwhelming favorite.Dollar-denominated stablecoins dominate the market. Source: DefiLlamaUS Treasury Secretary Scott Bessent said the Trump administration will use stablecoins to maintain the dollar’s status as the global reserve currency, which partly explains the sense of urgency to push legislation over the finish line. “We are going to put a lot of thought into the stablecoin regime, and as President Trump has directed, we are going to keep the US [dollar] the dominant reserve currency in the world, and we will use stablecoins to do that,” Bessent told the White House Crypto Summit on March 7.Treasury Secretary Scott Bessent pictured alongside President Donald Trump at the White House Crypto Summit on March 7. Source: The Associated PressMagazine: Unstablecoins: Depegging, bank runs and other risks loom