Here’s what happened in crypto today
Today in crypto, an Ohio lawmaker filed a bill for the state to make a Bitcoin reserve; Crypto.com’s CEO met Donald Trump to talk crypto policy, and a European lawmaker called on the bloc to establish a Bitcoin reserve while rejecting a “digital euro.”
Ohio lawmaker introduces Bitcoin reserve bill
Ohio House Republicans leader Derek Merrin on Dec. 17 introduced the tentatively titled “Ohio Bitcoin Reserve Act,” which would give the state treasurer authority to purchase Bitcoin BTC$104,317 and establish a state-ran reserve of the asset.
“The U.S. Dollar is being rapidly devalued, and our State Treasurer should have the authority and flexibility to invest in Bitcoin when determining proper asset allocation,” Merrin said in a statement . “Ohio must embrace technology and protect tax dollars from eroding.”
Merrin said he anticipates the bill will be used as a framework for Ohio’s next legislative session as the bill will need to be reintroduced in the next legislative session as the current one is set to end on Dec. 31, and all bills will “die.”
Texas and Pennsylvania have filed similar legislation to establish Bitcoin reserves after Donald Trump’s presidential election victory in November — who has also floated the idea of a federal Bitcoin reserve .
Trump meets Crypto.com CEO
United States President-elect Donald Trump met with Crypto.com CEO Kris Marszalek to discuss the nation’s crypto policies, signaling readiness from the incoming administration to follow through on its pro-crypto proposals.
According to a social media post, Marszalek traveled to Trump’s Mar-a-Lago resort in Florida to discuss the potential for a Bitcoin strategic reserve . The two also discussed crypto-related appointments to Trump’s incoming administration.
The meeting was held on the same day that the Crypto.com exchange voluntarily dropped its lawsuit against the Securities and Exchange Commission (SEC).
Marszalek initially revealed his intent to sue the SEC in October to “protect the future of crypto.”
In a written statement to Cointelegraph, a Crypto.com spokesperson said the exchange dismissed the lawsuit to highlight its “intent to work with the incoming administration on a regulatory framework for the industry.”
“No to CBDC, yes to Bitcoin” — European MP calls for EU BTC reserve
European lawmaker Sarah Knafo called on the European Union to establish a strategic Bitcoin reserve while rejecting the proposed adoption of the “digital euro,” a CBDC under development by the European Central Bank (ECB).
Knafo, a French magistrate and a member of the European Parliament since June, delivered a pro-Bitcoin BTC$104,317 speech, calling on European lawmakers to launch a strategic BTC reserve.
“No to the digital euro, yes to a strategic Bitcoin reserve,” Knafo said in an X post, which included a video of her speech before the European Parliament.
The lawmaker said that it’s time to stop “totalitarian temptations” by the ECB, calling for a shift from regulatory overreach in crypto to adopting the decentralized nature of Bitcoin.
“It is time to change the paradigm. It is time to protect our people from inflation and the poor economic choices of our states. It is time to say no to the totalitarian temptations of the European Central Bank, which wants to impose a digital euro entirely in its hands,” Knafo said.