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The post Florida Proposes Bill to Invest Public Funds in Bitcoin appeared first on Coinpedia Fintech News In a recent development, Florida Senator Joe Gruters has proposed a bill to allow public funds investment in Bitcoin. The bill called “SB 550: Investments of Public Funds in Bitcoin,” which would allow the state’s Chief Financial Officer (CFO) to invest various public funds in Bitcoin and other cryptocurrencies. This includes funds like the General Revenue Fund, Budget Stabilization Fund, and trust funds. 41.) Florida Senator @JoeGruters introduces bill SB 550, which allows the CFO to invest up to 10% of public funds into #Bitcoin pic.twitter.com/RKNeVBUOHZ — HODL15Capital (@HODL15Capital) February 10, 2025 Notably, the bill gives the CFO authority to manage and regulate these investments while ensuring they follow state financial plans. It sets a cap of 10% for Bitcoin holdings in each fund. The bill also sets rules for safely storing Bitcoin and provides guidelines for tax collection. Its goal is to include Bitcoin in Florida’s financial system as a useful asset, while ensuring all regulations are followed. This bill places Florida among the U.S. states considering Bitcoin for public investment. VanEck’s Matthew Sigel also pointed out that holding Bitcoin as a reserve could strengthen the U.S. economy, particularly in sectors like energy, AI, and finance, while protecting against inflation. Key Provisions Of The Bill The proposed bill lays out a clear plan for investing public funds in Bitcoin. It gives the CFO the authority to manage these investments according to the state’s financial goals. The bill also sets rules for safely holding Bitcoin and lending it under certain conditions. To handle taxes, the bill suggests transferring taxes and fees paid in Bitcoin to the General Revenue Fund. This fund would also cover payments for state employees who choose to receive crypto as part of their salary. These provisions aim to ensure transparency and accountability in managing crypto investments. Growing Number Of States Adopting Crypto This bill from Florida follows a similar initiative in Maryland, where the state proposed the Strategic Bitcoin Reserve Act to invest in Bitcoin using gambling violation revenues. It shows that more states are exploring crypto adoption. Bitcoin is on its way to becoming a mainstream reserve asset, driven by increasing adoption from institutions and governments. Despite the growing number of Bitcoin reserve proposals, regulatory challenges remain. Fiscal policies and Bitcoin’s volatility could create obstacles for lawmakers and the public. However, if enough states adopt similar bills, it could spark a wider discussion about a potential federal Bitcoin reserve in the future.

NEW: Florida Senator Joe Gruters introduces bill to invest in Bitcoin 🇺🇸

Texas Representative Al Green, ranking member of a House subcommittee on oversight and investigations, criticized US President Donald Trump for pushing his own “deregulatory pro-crypto agenda” while launching a controversial memecoin.  In a Feb. 6 hearing of the House Financial Services Committee’s Oversight and Investigations Subcommittee, Rep. Green, a Democrat, immediately challenged the narrative Republican leadership made in claiming the previous administration had “put crypto in the crosshairs” of US regulators. The Texas representative said the colloquial term Operation Choke Point 2.0 — used by some lawmakers and crypto executives claiming former US President Joe Biden’s administration had orchestrated attempts to debank the industry — was a “fake program, never initiated.” Politics, Congress, Banks, Donald Trump, Memecoin Rep. Al Green addressing lawmakers on Feb. 6. Source: House Financial Services Committee According to Rep. Green, the Federal Deposit Insurance Corporation (FDIC) and US financial regulators under the previous administration warned financial institutions about potential business ties to crypto firms rather than ordering them to halt services — a claim echoed by Better Markets banking policy director Shayna Olesiuk, who testified at the hearing.  Regulators asking banks to consider the risks associated with the cryptocurrency industry does not amount to debanking,” said Rep. Green. The Texas representative hinted that lawmakers should turn their attention to Trump’s memecoin, which he launched before taking office on Jan. 17. Neither subcommittee chair Dan Meuser nor Financial Services Committee chair French Hill commented on the TRUMP coin in their opening statements. “Regulation by exhaustion,” says Coinbase CLO The Feb. 6 hearing appeared to be based on some industry executives claiming to have been cut off from traditional banking services based on their ties to crypto. A Freedom of Information Act lawsuit led by Coinbase showed the FDIC issued letters to banks in 2022 suggesting they “pause all crypto asset-related activity.”$TRUMP

Dear Bitget Insights Users, We have noticed that some users have been frequently posting duplicate content in the community. Such behavior not only disrupts the community's communication experience but also seriously violates the community rules. To prevent violations from impacting the community's safety and environment, we will implement the following measures: 1. Bans for Severe Violations Accounts with serious violations will be banned from participating in community activities, including posting, liking, commenting, and sharing. 2. Warnings for Minor Violations Users with less severe violations will receive warnings. Continued violations may result in account bans in the future. If you have any questions about these measures or wish to communicate further, please feel free to contact us via private message on the official Bitget Insights X account (https://x.com/BitgetInsights). We will actively respond and assist in resolving your concerns. Thank you again for your understanding and support! Bitget Insights Team Below is the public list of users who violated rules in this issue 👇🏻 Banned Nicknames: BGU****AL ham****is Jac****ez BGU****1B Mik****ce Ele****ia jac****ry MR-****on Jam****to Sho****oo tra****ng Ros****er Har****ia BGU****4U BGU****WV Nad****ot Haf****at Cro****st sum****di BGU****1G cry****ng Leo****ry BGU****V7 kin****01 Rob****th Ify****pt Cry****10 BGU****1L Joe****gh BGU****as BGU****XG Mir****an I_****an DON****EX BGU****L8 Cry****nt BGU****R1 BGU****XP Gle****11 老****盘 BGU****L6 BGU****AF Ka****en BGU****SJ BGU****F3 cry****st Dav****on BGU****6B BGU****KW Cry****es BGU****L0 Ish****fa Kha****eb BGU****JC BGU****3Z جیک****ک۔ BIT****OW Cry****ha can****ce Cry****h2 🤖N****m☠ BGU****G7 jas****oy Mr_****er BGU****KL BGU****XK wal****42 RL_****ns DL****rt 🌸a****🌸 sa****an Zai****ts kin****64 Ann****ne Any****er cry****st Ali****el BGU****HB BGU****KY BGU****BB FAU****YU Sha****st Uma****02 San****23 ba****💫 Ro****eo Jac****de BGU****R1 Cry****ia Nim****💞 Jim****my Bit****ng Mee****ii Jam****op Cry****ia Ceo****er Dav****as Mr_****ca kin****te Ka****or zai****ah E_M****ER Mee****02 Aro****oi Ars****63 BGU****MV Mar****us GEN****QP muh****�⚡ Mh****en kil****as BGU****KM 扎*布 BGU****10 BGU****D0 Nob****❤️ Li****_$ BGU****VG マテ****ーン BGU****QE Tw****ch BGU****0R

ConsenSys CEO Joe Lubin revealed how the company survived Operation Chokepoint 2.0. ConsenSys’ banking partner resisted closing its account until the pressure became unavoidable. Crypto de-banking concerns have reached Congress, with industry leaders calling for investigations into the crackdown. ConsenSys, the Ethereum-focused software company, has been a victim of U.S. authorities’ pressure to de-bank crypto-related businesses not once but twice. Despite these challenges, founder and CEO Joe Lubin reveals how the company managed to withstand the attacks with significant help from its banking partner. Surviving “Chokepoint 2.0”: Multiple Bank Accounts Notably, Operation Chokepoint 2.0 launched during President Biden’s administration. It targeted the crypto industry with efforts to remove them from the financial system, especially by pressuring banks to shut down crypto business accounts. (Operation Chokepoint 2.0 is a term used by some in the crypto industry to describe alleged government pressure on banks to cut ties with crypto businesses.) Lubin shared in an interview that ConsenSys weathered the storm by having multiple backup accounts, ensuring … The post ConsenSys Survives Two Strikes from Operation Chokepoint, CEO Joe Lubin Shares Insights appeared first on Coin Edition.