Today in crypto, Utah’s senate has passed a Bitcoin bill without the Bitcoin reserve provision, CZ asks Elon Musk to ban automated bots on X, and disappointment over the US Strategic Bitcoin Reserve announcement signals unrealistic investor expectations, according to regulatory experts.
Utah’s Senate passes Bitcoin bill — but scraps key provision
Utah’s Bitcoin (BTC) bill has passed the state Senate, but without a cornerstone clause that would have made it the first US state with its own Bitcoin reserve.
The HB230 “Blockchain and Digital Innovation Amendments” bill now only provides Utah citizens with basic custody protections, the right to mine Bitcoin, run a node and participate in staking, among other things.
The bill is now headed to Utah Governor Spencer Cox’s desk to be signed into law.
Utah Senator Kirk A. Cullimore confirmed HB230’s amendment to scrap the reserve clause. Source: Utah State Legislature
The reserve clause would have authorized Utah’s treasurer to invest up to 5% of digital assets with a market cap above $500 billion over the last calendar year in five state accounts. It was scrapped in the third and final reading.
“There was a lot of concern with those provisions and the early adoption of these types of policies,” one of the bill’s sponsors, Senator Kirk A. Cullimore, said in Utah’s March 7 floor session.
“All of that has been stripped out of the bill.”
CZ asks Elon Musk to get rid of automated bots on X
Binance co-founder Changpeng Zhao (CZ) asked Elon Musk to ban automated bots on X — a problem that the crypto community has grappled with for years now.
“I think X should ban all bots. I only want to interact with humans here — not ‘automated,'” CZ wrote in a March 9 X post.
Automated bots amplify messages by liking or retweeting posts and can even comment on posts, which is often done in a coordinated fashion by an individual or teams running bot farms.
Source: CZ
These automated bots often pose as crypto influencers or executives from the digital asset industry to peddle fake tokens, fraudulent airdrop scams, and promote phishing links designed to steal funds…
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