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The Senate Committee in Texas voted by an unprecedented vote of 9-0 to forward Senate Bill 21 (SB-21) to the Senate floor, where debate can continue. Senate Bill 21 is sponsored by Senator Charles Schwertner to put in place the Texas Strategic Bitcoin Reserve to invest in Bitcoin in the economic policy of the state. A Satoshi Club tweet brought attention to the passage of the bill and its significance in solidifying Texas’ status as a Bitcoin hotspot. Considering Texas’ presence in the sector of crypto-mining, this bill is in accordance with the state’s continued push to incorporate Bitcoin into its economic system. Texas Senate Bill 21 (SB-21) passed the Senate Banking Committee in a 9-0 vote and now heads to the Senate floor. The bill would allow the state to acquire, sell & trade $BTC as part of a strategic reserve. pic.twitter.com/Y12VAzeOpZ SB-21 offers permission to the Comptroller of Public Accounts in Texas to purchase, sell, and exchange cryptocurrencies , including Bitcoin. Under this act, these cryptocurrencies can be used to hedge inflation and economic uncertainty. This bill offers an additional guarantee in that in case the state does acquire Bitcoin, this is to be done in cold storage to protect against cyber attacks and unauthorized access. In making a reserve in Bitcoin to be maintained by the state, Texas can diversify beyond traditional cash and bond holdings. Bitcoin is regarded by lawmakers as offering additional reserve-holding potential because of its decentralized status. Enactment of this bill can encourage additional states to follow this type of action. The legislation also raises considerations to take into account, such as price movements in Bitcoin that can influence the value of the state’s holdings. Additionally, regulatory policy by the federal authorities can influence the state’s management of its reserve in Bitcoin. Steps in the act to secure digital assets against threats include cold storage. The passage in Texas of SB-21 would have that jurisdiction join among the top US jurisdictions to have Bitcoin in reserve. Whereas El Salvador has adopted Bitcoin as its official currency, this action by Texas has the potential to ignite debate in other US jurisdictions regarding integrating cryptocurrencies. Passage is an indicator of ongoing legislative momentum to address digital assets in public finance. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Equadyne Finance has started the pre-sale of its native token, EQN, as part of its broader mission to simplify decentralized finance (DeFi) investing. The platform seeks to address key challenges in the sector, including complex onboarding, fragmented tools, and security concerns. With the integration of EQN into its platform, Equadyne introduces a more streamlined user experience. A single email login grants users access to a dashboard that automatically connects their wallets and assets. This removes the need for manual transactions or private key management. It provides a seamless way for users to manage their investments in a decentralized environment. Equadyne’s platform offers a unified dashboard that allows users to easily manage their portfolios and optimize their investments with minimal effort. The AI-powered automation allows users to deploy automated strategies across different DeFi protocols. This simplifies the complexities of tasks such as yield farming, lending, borrowing, and portfolio rebalancing. Related: Avalon Labs: Bitcoin DeFi for Mainstream? New Fund Aims to Bridge Crypto-TradFi Gap The platform features a no-code strategy builder, enabling investors to automate various on-chain activities, from yield farming and lending to portfolio rebalancing. AI-powered monitoring tools provide real-time insights into market trends, liquidity shifts, and wallet activity, allowing users to make informed decisions. Holding and using the EQN token on the Equadyne platform offers multiple benefits. By staking EQN, users can access a range of rewards, including reduced platform fees and advanced features. Related: Global Bond Market Could Drive 1,300x Growth in DeFi, Says Omni Founder One key feature is the Paymaster, which allows users to perform cross-chain transactions without needing native tokens to cover gas fees. The platform also uses a PnL-based fee structure, so users are only charged fees when they make a profit. In addition, EQN token holders can participate in the platform’s governance, giving them voting rights on key decisions regarding the platform’s future. This involvement empowers users to have a direct impact on the direction of the project. Operating on a non-custodial framework, Equadyne ensures that users maintain full control over their assets. Additionally, Equadyne plans to roll out a V2 update with additional features and enhanced security protocols. Meanwhile, a forthcoming security audit will further evaluate the platform’s infrastructure. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Top News 1. Pakistan will set up a council to oversee cryptocurrency policy. 2. Ripple partners with BDACS for #XRP, #RLUSD custody in South Korea. 3. Metaplanet announced a 2 billion yen conventional bond issue, the funds will be used to buy BTC.