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Florida’s CFO, Jimmy Patronis, Has Introduced Language Confiscating Bitcoin Wallets If Dormant For Five Years or More. Can He Does This?

Florida Web3 Legislative Update: Are We Ready For 2025?
Florida's Legislative session is over halfway over. How have all 6 of our web3 bills done so far?
substack.com

The primary concern is enforceability: how can the government identify unassessed Bitcoin, claim ownership, and then access it?

Given that many Bitcoin users intentionally leave their wallets dormant, and those who have lost access cannot retrieve their assets, it is doubtful the State of Florida could do so either.

Florida is looking to create an AI Task Force, but some legislators are trying to ban it all together

Bill mandating disclosure for artificial intelligence in political ads headed to House floor
'We don’t want to be the thought police but we do want to have some guardrails.'
floridapolitics.com

Broadly interpreted, this could hinder the adoption of companies willing to accept Bitcoin. For instance, if McDonald's wanted to accept Bitcoin from customers, it would need a license to store that Bitcoin if it chose to self-custody. The alternative would be relying on a third party for everything, which contradicts the ethos of the digital asset space, or at least it used to.

Coinbase continues to impress Wall Street, while the company also continues its political donations to Republicans to flip the Senate.

Coinbase Shares Surge After It Crushes Wall Street Expectations
The crypto exchange's transaction revenue doubled from previous quarter as crypto markets soared.
coindesk.com

That seemed to translate into more business at Coinbase. It saw 100% more trading volume during the quarter versus the third quarter. Fourth-quarter volume amounted to $154 billion, ahead of the estimate of $142.7 billion.

"The ETFs are really a win-win for Coinbase, I think we’re already starting to see that play out on the platform,” Gupta said. The crypto exchange provides custodial services to 8 out of the ten spot bitcoin ETFs, making it a key player in the business.

Elizabeth Warren Loves Bitcoin? Not so fast. Apparently someone was hacked!

Did Elizabeth Warren Just Endorse Bitcoin? Not So Fast
A stunt from Bitcoin supporters led to the appearance that the U.S. senator and staunch cryptocurrency opponent Elizabeth Warren signed an order for a flag to be flown over the U.S. capitol commemorating Satoshi Nakamoto.
coindesk.com

Turns Out: Defi Is Good For the Dollar?

U.S. Federal Reserve Gov. Waller Says DeFi Could Boost Dollar's Global Strength
Despite some fears in government circles that crypto could undermine the dollar, the Fed governor said that the use of dollar-dependent stablecoins can boost the dollar's reach.
coindesk.com

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