Hello Bitcoiners,

Welcome to issue #47 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🏛️ Minnesota Enacts Bank Bitcoin Custody
Governor Walz signed HF 3709 allowing Minnesota banks and credit unions to offer Bitcoin custody from August 1, 2026.

📜 House Agriculture leaders press Trump to appoint CFTC commissioners
Senate Banking Committee advanced the CLARITY Act, giving the CFTC oversight of spot Bitcoin trading. House leaders urged Trump to fill vacant CFTC seats.

👀 House Pushes Permanent CBDC Ban
Republicans are amending a housing bill this week to permanently block the Federal Reserve from issuing a CBDC.

USA

Minnesota signs law allowing banks and credit unions to offer custody services for Bitcoin

Governor Tim Walz signed Minnesota House File 3709 into law this month. Effective August 1, 2026, the bill lets state-chartered banks and credit unions hold virtual currencies, including Bitcoin, for customers in a non-fiduciary capacity. Institutions must keep client assets fully segregated from their own, maintain written risk management and security policies, and give the Minnesota Commissioner of Commerce at least 60 days’ written notice before offering the service. They cannot trade, lend, or invest customer assets. A companion bill, SF 3868, bans new virtual currency kiosks statewide from August 1 and requires removal of existing ones by December 31.

For a self-custody Bitcoiner, skip Minnesota’s new bank custody option entirely. Not your keys, not your coins! It removes sovereignty and defeats Bitcoin’s main purpose. Plus, the companion ATM ban eliminates a key cash on-ramp in Minnesota starting August 1. Most other states still allow them. You can also use P2P or no-KYC methods available nationwide to keep stacking sats without handing over your identity.

The Block 

House Agriculture leaders press Trump to appoint CFTC commissioners as CLARITY Act advances in Senate

On May 14 the Senate Banking Committee voted 15-9 to advance the CLARITY Act, the market-structure bill that would give the Commodity Futures Trading Commission primary oversight of spot trading in digital commodities such as Bitcoin. Two Democrats joined Republicans. The same day the committee acted, House Agriculture Committee Chair Glenn Thompson and Ranking Member Angie Craig wrote President Trump urging him to nominate a full slate of five CFTC commissioners. Only Chairman Michael Selig currently serves; the other four seats are vacant. A complete commission would make future rules harder to overturn in court.

The bill remains a proposal and has not passed either chamber in final form, so it changes nothing for your Bitcoin today. If enacted, the bill would give the CFTC clear authority over spot Bitcoin trading and include explicit safe-harbor protections for self-custody and non-custodial software. A full five-member CFTC commission would also make those rules harder to challenge in court.

The Block

Republican lawmakers call for permanent CBDC ban as House vote approaches

House Republicans are amending the 21st Century ROAD to Housing Act to impose a permanent ban on the Federal Reserve issuing a central bank digital currency, a government-issued digital dollar that would allow direct transaction tracking. The Senate version of the housing bill only prohibits a CBDC until December 31, 2030. The House is expected to vote on its amended version this week. If it passes, the bill returns to the Senate. Separately, House Majority Whip Tom Emmer’s Anti-CBDC Surveillance State Act passed the House in July 2025 but has not cleared the Senate.

A central bank digital currency has no connection to Bitcoin and would not affect sats you already hold in self-custody. But, a permanent ban would close one potential future surveillance channel for fiat dollars. The housing bill must still pass the Senate and reach the president’s desk; the Emmer bill faces the same hurdle. No action is required on your Bitcoin. Continue stacking and holding in self-custody without reference to CBDC timelines or housing legislation.

Cointelegraph

Worldwide

🇯🇵 Japan pushes national AI and onchain finance system
Japan’s LDP approved a proposal for an AI and blockchain financial system with tokenized deposits and yen stablecoins. Sovereign onchain rails are advancing.

🇦🇪 Abu Dhabi sovereign fund keeps buying Bitcoin via ETF
Mubadala raised its BlackRock IBIT stake to 14.7 million shares worth $566 million. A major sovereign is steadily accumulating Bitcoin exposure. 

🌍 Bitcoiners seek relocation and second passports
Katie Ananina outlined top jurisdictions for Bitcoiners relocating or securing second passports amid tightening rules. Geographic diversification hedges single-country risk to your stack.

🇮🇷 Iran launches Bitcoin insurance for Hormuz Strait
Iran introduced “Hormuz Safe,” a Bitcoin-paid maritime insurance platform for ships transiting the Strait of Hormuz. Bitcoin is settling real trade under geopolitical pressure. 

🇧🇹 Bhutan faces questions over Bitcoin reserve drawdown
Bhutan’s sovereign fund claims it does not recall selling Bitcoin after onchain data showed holdings falling sharply. Nation-states get no trust exemption.

🇬🇧 UK Bitcoin advocates release privacy toolkit
Bitcoin Policy UK published a practical toolkit to counter expanding state surveillance and tracking. Western governments are tightening digital controls.

🇬🇧 UK pushes tax relief for Bitcoin payments
Bitcoin Policy UK also called for capital gains tax exemption on Bitcoin used for everyday purchases, matching proposed stablecoin treatment. Usage-based tax rules reduce friction.

🇨🇳 China joins crackdown on pig-butchering scams
China participated in a Dubai operation that arrested 276 suspects and closed nine pig-butchering centers. Bitcoin is frequently used in these frauds. Never send sats to unsolicited investment offers.

🇧🇷 Brazil bans bank from crypto trading over compliance failures
Brazil’s central bank fined Banco Topazio $3.2 million and banned it from foreign crypto trading for two years after due diligence lapses.

🇿🇦 South Africa extends comment period on crypto capital rules
South Africa pushed back the deadline on draft capital flow regulations that could restrict cross-border Bitcoin activity.

Poll

Latest Poll Results

Sovereignty Move of the Week

Every week I drop one concrete, actionable answer to a legal or political question that actually affects your life as a Bitcoiner, focused on a specific, real-world action you can take. No theory. No fluff. Just the move.

This week: How to understand the CLARITY Act and its real impact on you?

The CLARITY Act cleared the Senate Banking Committee on May 14 but is still only a proposal. The 309-page bill would give the CFTC oversight of spot Bitcoin trading as a digital commodity and create safe harbors for certain decentralized protocols. For a self-custody Bitcoiner the rules mostly target platforms, yet the definitions will decide which services remain viable.

1. Open the CahillNXT Clarity Map. Click through the interactive sections on “digital commodity,” CFTC authority, and safe harbors for non-custodial protocols. Focus only on how Bitcoin fits the commodity definition and which wallet or protocol activities stay outside new intermediary rules.

2. Download the Senate Banking Committee section-by-section summary PDF directly. Read pages covering digital commodities, mature blockchain systems, and safe harbors for software developers. Highlight any language that explicitly protects or excludes non-custodial Bitcoin holding and self-custody tools.

3. Go to the Congress website. Use the bill text search for the exact phrases “non-custodial,” “decentralized protocol,” and “digital commodity.” Note the definitions and any carve-outs that could interest you as a holder depending on your situation.

4. On the same Congress.gov page for H.R. 3633, click “Get alerts” and set notifications for status changes or amendments. Check the alert once per week and re-scan only the sections that interest you.

The Bitcoin Act is also preparing an AI bot to answer your basic questions on laws and legal news!

Got a legal or regulatory question you want answered next Tuesday? Hit reply and send it.

The Market Knows First: Bitcoin Law on Prediction Markets

📊 Americans receive tariff stimulus checks before 2027 — 10% Kalshi

📊 CLARITY Act becomes law before August — 57% Kalshi

📊 Trump pardons Roger Ver this year — 15% Kalshi

📊 CLARITY Act signed into law in 2026 — 64% Polymarket

📊 Trump eliminates capital gains tax on Bitcoin by Dec 31 2026 — 6% Polymarket 

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Quote of the Day ⚖️

“Freedom is indivisible. As soon as one starts to restrict it, one enters upon a decline on which it is difficult to stop.” — Ludwig von Mises

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Hello Bitcoiners,

Welcome to issue #46 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

₿ U.S. CLARITY Act: 40% odds 
Analyst Jaret Seiberg of TD Cowen raised the CLARITY Act's chances of becoming law to 40%.

🇿🇦 South Africa moves against Bitcoin
David Ansara, CEO of the Free Market Foundation, warns South Africa's draft regulations threaten Bitcoin ownership and self-custody.

🇳🇱 Netherlands unrealized gains tax collapsing
Senator Martin van Rooijen says he expects the Dutch Senate to reject the Box 3 wealth tax.

Opinion and Analysis

Jaret Seiberg (analyst, TD Cowen) raised odds of the CLARITY Act becoming law to 40% from one-in-three following Thursday's bipartisan 15-9 committee vote, citing clear Democratic interest in backing the bill.

Senator Elizabeth Warren (Democrat, Massachusetts) warned the CLARITY Act will damage the economy, saying in committee: “When this blows up the economy, I hope everybody remembers”.

David Ansara (CEO, Free Market Foundation) warned South Africa's crypto draft regulations threaten Bitcoin ownership, self-custody, the right to hold your own private keys, and financial freedom through forced disclosures, warrantless seizures, and punitive penalties.

Senator Martin van Rooijen (50PLUS Party, Netherlands Senate) said he expects the Dutch Senate to reject the Box 3 overhaul, a reform to the existing wealth tax that would introduce a new annual 36% levy on unrealized investment gains, urging the government to withdraw it first.

Mark Palmer (analyst, Benchmark) warns that the CLARITY Act needs 60 Senate votes to clear a filibuster, and that the two Democratic committee votes it received fall well short of that threshold.

The Fraternal Order of Police (a U.S. law enforcement union) formally opposed a CLARITY Act provision that would exempt non-controlling Bitcoin developers from money-transfer licensing rules, arguing the exemption would help criminal actors evade prosecution.

Senator Cynthia Lummis (Republican, Wyoming) argued that the absence of a regulatory framework is what creates the risks critics cite, and said the CLARITY Act would reduce those risks by establishing clear jurisdictional rules for the SEC and CFTC.

Matt Odell and Marty Bent (co-hosts, Rabbit Hole Recap) argued that, in negotiations over the CLARITY Act, Republicans are willing to remove developer protections to get some Democrats on board. They said that without developer protections the bill offers nothing meaningful, and therefore it should be killed entirely.

Cody Carbone (CEO, The Digital Chamber, a digital asset industry trade group) said his team entered Thursday’s markup “feeling somewhat defeated” after Wednesday talks collapsed, until a last-minute deal revived the bill just minutes before the hearing.

Coin Center (a nonprofit digital currency policy research organization) reported that CLARITY Act provisions shielding Bitcoin developers who don't hold user funds from financial licensing requirements survived the Senate Banking Committee markup intact.

Poll

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Earn Sats by Learning

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Numbers of the Week

🇵🇱 July 2026 – Poland passed a law implementing the EU’s MiCA framework ahead of the July deadline, which requires member states to comply or risk domestic crypto firms losing the ability to operate across the EU. The Block

☠️ $11,400,000,000 – FBI's 2025 figure for cryptocurrency fraud losses globally, the backdrop to Myanmar's new bill proposing death penalty for forcing victims into scam centers. The Block

⚖️ $344,149,759 – U.S. terrorism victims asked a Manhattan federal judge to order Tether to turn over more than $344 million in frozen USDT held in wallets linked to Iran’s Islamic Revolutionary Guard Corps, to enforce court judgments. The Block

🏦 27 – Number of EU and EEA countries B2C2 can now serve after becoming the first global OTC liquidity provider licensed under the EU's MiCA framework. The Block

📊 2,000+ – Total purchases in President Trump's Q1 disclosure, which included Coinbase, Strategy, and MARA Holdings stock among digital asset-related transactions. The Block

On The Radar — Upcoming Dates & Votes to Watch

🏦 May 18 (Monday) — FDIC GENIUS Act Response Deadline — Washington, D.C. — Hard deadline for digital asset organizations to submit regulatory comments on FDIC rulemaking governing how GENIUS Act stablecoin issuers apply for federal oversight.

🖥️ May 19 (Tuesday) — Global Digital Asset Compliance 2026 Forum — Virtual — Industry event focused on translating MiCA and U.S. digital asset legislation into bank-grade compliance operations; relevant for any Bitcoin business operating across jurisdictions.

🇬🇧 May 19–20 (Tuesday–Wednesday) — OMFIF Digital Money Summit 2026 — London — Central bank and policymaker summit debating cross-border digital money architecture, wholesale CBDCs, and stablecoin frameworks; watch for signals on how institutions view Bitcoin settlement.

₿ May 22 (Friday) — Bitcoin Pizza Day — Worldwide — Annual commemoration of the first commercial Bitcoin transaction: 10,000 BTC exchanged for two pizzas on May 22, 2010, by Florida programmer Laszlo Hanyecz.

🇺🇸 May 22–23 (Friday–Saturday) — Bitcoin Is For Everyone Conference — Portland, Oregon — Troy Cross (Bitcoin Policy Institute Fellow, Chief Editor of The Nakamoto Project) and Win Ko Ko Aung (Human Rights Foundation) among speakers; focuses on Bitcoin access and rights. 

🇮🇪 Saturday May 23, 3:30–4:00 PM — Bitcoin Ireland Conference 2026 — Ireland — Bitcoin Policy Panel with Dave Bradley, Johannes Schmith, Morgan, and Dr. Niall Burke; watch for European Bitcoin policy analysis.

🇮🇪 Sunday May 24, 3:20–3:40 PM — Bitcoin Ireland Conference 2026 — Ireland — Robin Thatcher speaks on Bitcoin tax policy; watch for guidance relevant to European Bitcoin holders and businesses. 

Quote of the Day 

“The conception of freedom under the law... rests on the contention that when we obey laws, in the sense of general abstract rules laid down irrespective of their application to us, we are not subject to another man’s will and are therefore free.” — Friedrich Hayek

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Every milestone you hit triggers an automatic email asking for your Lightning address.

Reply, and the sats are sent. → 1 referral = 21 sats → 5 referrals = 210 sats → 10 referrals = 2,100 sats 

Track your progress anytime from the referral dashboard. Your referral link: {{rp_refer_url}}

Hello Bitcoiners,

Welcome to issue #45 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

⚖️ Clarity Act Votes Thursday — Real Fight Starts After
Senate Banking Committee markup vote this Thursday. The committee vote is only the first step, the real battle will be securing 60 votes on the Senate floor.

📋 What the Clarity Act Means for Your Stack
It would classify Bitcoin as a commodity under the CFTC, legally protect self-custody and prevent developers from being classified as money transmitters.

🔓 They're Breaking Into Homes for Hardware Wallets
20-year-old sentenced to 6.5 years for physically stealing hardware wallets as part of a $250M Bitcoin theft ring.

USA

The Clarity Act Vote Starts Thursday, but the Real War Begins After

The Senate Banking Committee votes Thursday on the Clarity Act. Back in January, Coinbase killed the first version at the last minute because Washington wanted to heavily restrict stablecoin rewards. Since then, senators, the White House, exchanges, and banking lobbyists have been in nonstop negotiations. Earlier this month, Senators Thom Tillis and Angela Alsobrooks reached a compromise: firms can’t pay passive “bank-like” yield just for parking stablecoins, but they can offer transaction-based rewards tied to actual activity. Coinbase accepted the deal. The banks didn’t. This week, the American Bankers Association launched a full panic campaign, privately urging bank CEOs to pressure senators to stop the bill, warning it could pull deposits out of the banking system.

Meanwhile, Coinbase CEO Brian Armstrong is scheduled to meet Senate Republicans on Wednesday, one day before the Senate Banking Committee markup vote. That committee, led by Senator Tim Scott, is the first gatekeeper: senators on the committee will debate amendments, negotiate final wording, and vote on whether the Clarity Act advances out of committee. If it passes, the Banking Committee version then gets combined with the Agriculture Committee version before heading to the full Senate floor. That’s where the real fight begins because Republicans still need at least seven Democrats to reach the 60 votes required to break a filibuster. Democrats like Kirsten Gillibrand and Angela Alsobrooks are demanding ethics provisions tied to Trump family Bitcoin business interests before backing the bill, while Elizabeth Warren is attacking the proposal over anti-money laundering and DeFi concerns.

The Block 

What the Clarity Act Actually Does to Your Life as a Bitcoiner

The Senate Banking Committee released the full 309-page Clarity Act on Monday, and several parts directly impact Bitcoin users. The bill classifies Bitcoin as a commodity under the CFTC instead of the SEC, which is generally seen as a more crypto-friendly regulator. It also includes the “Keep Your Coins Act,” which would prevent federal agencies from restricting the use of self-custody wallets. The proposal says that if a crypto exchange goes bankrupt, your Bitcoin legally remains your property, not the exchange’s, and exchanges must clearly disclose that before holding customer funds. The bill also protects developers building Bitcoin and crypto software from being treated as money transmitters. If passed, the rules would take effect 360 days later.

Two things that don't change for you today: nothing is law yet and self-custody remains your only sovereign option regardless of what Congress does. If this passes, it locks in legal protections. If it stalls, the gray zone continues. Either way, hold your own keys.

Senate

They're Breaking Into Homes for Hardware Wallets

Marlon Ferro, 20, from Santa Ana, California, was sentenced to 6.5 years in federal prison for helping run a $250 million Bitcoin theft ring. The group first used phishing scams and hacked online accounts to target victims, but when that failed, Ferro allegedly broke into homes to steal hardware wallets directly, including one case in Texas where he stole 100 Bitcoin. Prosecutors said the stolen crypto funded luxury cars worth $3.8 million and nightclub parties costing more than $500,000.

Your threat model is physical now, not just digital. Never talk about your stack publicly. Your hardware wallet location should be known by no one outside your immediate family. Use a passphrase, a stolen device without it is useless. Consider a decoy wallet with a small amount of sats. Silence is your first line of defense.

Bitcoin.com

Worldwide

🇧🇹 Bhutan Fast-Tracks Crypto Licensing
Bhutan’s Gelephu Mindfulness City launched a fast-track approval system for regulated Bitcoin firms, giving them quicker licenses and built-in banking access, along with major tax incentives like 0% corporate and capital gains tax for eligible companies.

🇦🇺 Australia Doubling Bitcoin Tax
Australia wants to change tax rules on crypto profits. Long-term Bitcoin and crypto investors could end up paying more taxes on gains. 

🌍 Australia Seizes $4.2M in Bitcoin
Australian police seized more than $4 million in Bitcoin linked to darknet drug and money laundering activity. Two men were charged in the investigation. 

🏦 Basel Rules Kill Bank Bitcoin Products
Global banking regulators introduced strict rules forcing banks to fully back Bitcoin holdings with cash reserves. This could make Bitcoin services more expensive for banks to offer. 

🇰🇷 South Korea Confirms 22% Bitcoin Tax in January
South Korea confirmed a 22% tax on crypto profits above a certain amount starting next year, despite growing political opposition.

🇬🇧 Bitcoin Policy UK Enters New Chapter
Bitcoin Policy UK announced co-founder Freddie New is leaving to focus on Bitcoin Lightning Network projects. The organization said its Bitcoin policy work will continue.

🇫🇷 France Jails Two Men in Crypto Fraud Scheme
A father and son in France received five-year prison sentences for a fraud scheme that moved more than €400,000 into crypto platforms.

🇪🇺 Taurus Gets MiFID License for Tokenized Securities
Crypto firm Taurus received a European license allowing it to offer tokenized stocks, bonds, and other digital financial products across the EU.

🇫🇷 Coinhouse Gets MiCA — Goes Pan-European
French Bitcoin platform Coinhouse received official EU approval under MiCA regulations, allowing it to expand Bitcoin services across Europe.

🇹🇼 Taiwan Anchor Indicted for Taking Crypto From China to Bribe Soldiers
Taiwan charged a news anchor accused of taking crypto payments from Chinese agents to spread propaganda and help leak military information.

Poll

Latest Poll Results

Sovereignty Move of the Week

Every week I drop one concrete, actionable answer to a legal or political question that actually affects your life as a Bitcoiner, focused on a specific, real-world action you can take. No theory. No fluff. Just the move.

This week: How to protect yourself from wrench attacks?

A wrench attack is simple: someone knows you hold Bitcoin and physically forces you to hand it over. No need to hack you. Just a threat, a wrench, and your address. It's happening more. France has seen several high-profile cases, a Ledger executive's father was kidnapped in Paris, crypto founders have been targeted in Lyon and the Paris suburbs. Brazil, UK, and Southeast Asia are also active threat zones. The common denominator: visible wealth, loose lips, or data leaks.

Your concrete moves: 

1. Never disclose your stack. Not online, not at dinner, not to your accountant. The attack surface is always a human who knows you hold Bitcoin. 

2. Use a passphrase. Your hardware wallet has a PIN. Add a BIP39 passphrase on top, this creates a completely separate wallet. Your "decoy" wallet holds a small amount of sats. Under duress, you hand over the PIN. Your real stack is behind the passphrase. No one can prove it exists.

3. Know the legal landscape. Switzerland currently requires Bitcoin holdings to be declared in your annual wealth tax statement, that data sits in government systems that can be hacked or leaked. France considered a similar mandatory declaration law this year, it did not pass. The risk: government databases of Bitcoin holders are a ready-made target list for physical attackers. Watch which countries pass these laws.

4. Geographic awareness. France is statistically one of the highest-risk countries for Bitcoin physical attacks in Europe. If you're French and publicly known in the Bitcoin space, your home address is your biggest vulnerability. Consider a PO box for public correspondence. Never link your real address to your Bitcoin identity online.

5. Multisig for large stacks. If you hold significant sats, a 2-of-3 multisig setup means no single location holds enough to access your Bitcoin. Even under duress, you genuinely cannot hand over the full stack alone.

Got a legal or regulatory question you want answered next Tuesday? Hit reply and send it.

The Market Knows First: Bitcoin Law on Prediction Markets

📊Clarity Act signed into law in 2026 — 69% Polymarket

📊 Clarity Act signed before August — 69% Kalshi

📊 Trump pardons Samourai Wallet dev before Dec 31, 2026 — 27.75% Predyx

📊 Democrats win the U.S. House in 2026 — 92% Predyx

📊 U.S. national Bitcoin reserve in 2026 — 25% Predyx

Earn Sats by Learning ⭐️

The first people to open and read this newsletter can claim 21 sats! Learn interesting things and earn sats while you’re at it! 👇

Quote of the Day ⚖️

“The state is that great fiction by which everyone tries to live at the expense of everyone else.” — Frédéric Bastiat 

Affiliation

Help spread the signal, and get paid in sats for it. The Bitcoin Act runs a tiered affiliate program.

Every milestone you hit triggers an automatic email asking for your Lightning address.

Reply, and the sats are sent. → 1 referral = 21 sats → 5 referrals = 210 sats → 10 referrals = 2,100 sats 

Track your progress anytime from the referral dashboard. Your referral link: {{rp_refer_url}}

Hello Bitcoiners,

Welcome to issue #44 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🔐 Wrench Attacks Hit Record Levels
CertiK reports 34 verified physical attacks on crypto holders in the first four months of 2026.

🏛️ Senate Chair Pushes to Make U.S. the Bitcoin Capital
Senator Tim Scott publicly calls for U.S. Bitcoin leadership, signaling the CLARITY Act markup moves forward this week.

🇿🇦 Cole: South Africa’s Draft Regulations Threaten Bitcoin Self-Custody
Cole warns South Africa's 2026 draft regulations are a direct assault on sovereignty.

Affiliation

Help spread the signal, and get paid in sats for it. The Bitcoin Act runs a tiered affiliate program.

Every milestone you hit triggers an automatic email asking for your Lightning address.

Reply, and the sats are sent. → 1 referral = 21 sats → 5 referrals = 210 sats → 10 referrals = 2,100 sats 

Track your progress anytime from the referral dashboard. Your referral link: {{rp_refer_url}}

Opinion and Analysis

Bank of England Governor Andrew Bailey warns of an incoming "wrestle" with the Trump administration over stablecoin rules, cautioning that hard-to-redeem U.S. dollar stablecoins could flood UK markets during a financial crisis.

CertiK reports 34 verified wrench attacks globally in the first four months of 2026, up 41% compared to the same period last year, with 82% of incidents occurring in Europe. Family members are now increasingly targeted as leverage.

SEC Chair Paul Atkins argues current securities law doesn't fit Bitcoin software protocols, signaling the SEC may write entirely new rules for on-chain market structures, a potential regulatory reset.

Pierre Rochard (Bitcoin Advocate) notes Biden's 2024 energy survey targeted Bitcoin miners with mandatory emergency reporting. Trump's replacement is voluntary and treats all data centers equally.

Senator Angela Alsobrooks (D-MD) confirmed lawmakers resolved the stablecoin yield dispute blocking the CLARITY Act, removing the last known obstacle before the May 14 Senate Banking Committee markup.

Senator Tim Scott (R-SC, Banking Committee Chair) publicly called for making the U.S. the leading Bitcoin nation, a direct signal he intends to move the CLARITY Act markup forward this week.

Senator Cynthia Lummis (R-WY) urges the Banking Committee to pass the CLARITY Act on Thursday and declares the U.S. will lead on Bitcoin innovation. The vote is days away.

CFTC Chairman Mike Selig declares the agency is leaving its anti-Bitcoin era behind, promising a new environment that embraces innovation and cements the U.S. as the global Bitcoin capital.

SEC Crypto Task Force Chief Counsel argues market structure legislation will "supercharge" the SEC's ability to bring legal clarity to Bitcoin markets, the clearest regulatory endorsement yet of the bill.

Cole (Southern Bitcoiner) argues South Africa's 2026 draft regulations constitute a direct assault on sovereignty, forced declarations, transaction approvals, and private key disclosure on demand.

Poll

Latest Poll Results

Earn Sats by Learning

The first people to open and read this newsletter can claim 21 sats! Learn interesting things and earn sats while you’re at it! 👇

Numbers of the Week

📅 May 14 — Senate Banking Committee sets its second attempt at a markup vote on Bitcoin market structure legislation, after canceling in January. The most consequential Bitcoin vote in congressional history is days away. The Block

✍️ 100,000 — Swiss Bitcoin reserve campaigners have collected only half the 100,000 signatures needed to force a national referendum, with weeks left on the deadline. TFTC

🇩🇪 2027 — Germany's Finance Minister plans to abolish the 12-month Bitcoin tax exemption and impose a flat 25% capital gains tax starting in 2027. Four attempts in 18 months, this one is in the budget. Atlas21

🇬🇧 May 5 — Bitcoin Policy Institute launched a UK policymaker education program on May 5, backed by Xapo Bank, to shape Britain's Bitcoin regulatory framework before the Financial Services and Markets Act takes effect in 2027. BPI

⚠️ June 18 — U.S. regulators have a rule effectively banning banks from holding Bitcoin, and the window to submit formal opposition closes June 18. Go to FixBasel.org and file your comment now. BPI

On The Radar — Upcoming Dates & Votes to Watch

🏛️ May 12 — Roman Sterlingov Bitcoin Fog Appeal (D.C. Circuit Court) — Oral arguments before three federal appellate judges on the Bitcoin mixer conviction. One of the most important Bitcoin privacy cases in U.S. legal history. 10–20 minutes per side. Reception to follow. Support at FreePrivacyConvicts.org. 

🇪🇸 May 12 — Mad Bitcoin Summit 2026 Closes, Madrid, Spain — Final day of Madrid's flagship Bitcoin conference, focused on sovereignty, privacy, and Bitcoin adoption across Europe. Watch for closing policy announcements.

🇧🇪 May 12–13 — ACAMS Assembly Europe, Brussels — Anti-financial crime professionals gather for AML and Bitcoin compliance sessions. Signals where EU enforcement is heading next.

🇦🇪 May 12–14 — Seamless Digital Commerce ME, Dubai — Middle East's largest fintech expo: 25,000+ attendees. Cross-border payments and stablecoin infrastructure for the Gulf region on center stage.

🧡 May 13 — HRF x PubKey Fireside, Washington DC — Nicaraguan opposition leader Félix Maradiaga shares how political dissidents use Bitcoin to resist authoritarian regimes. Free and public, live Q&A included.

🏛️ May 14 — Senate Banking Committee CLARITY Act Markup — The most consequential Bitcoin legislative vote in U.S. history. The committee votes to advance comprehensive Bitcoin market structure legislation for the first time ever. Watch this one closely.

🇪🇺 MiCA Grandfathering Deadline — July 1 is closing in — Unregistered Bitcoin service providers in the EU have weeks left to comply or shut down. Expect compliance announcements to accelerate this week.

Quote of the Day 

“How can it be that institutions which serve the common welfare and are extremely significant for its development come into being without a common will directed toward establishing them? ... Law, language, the state, money, markets, all these social structures in their various empirical forms and in their constant change are to no small extent the unintended result of social development.” — Carl Menger

Don’t Forget – Earn Bitcoin while you share!

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Hello Bitcoiners,

Welcome to issue #43 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

⚖️ CLARITY Act Stalls on Stablecoin Yield
Senators Alsobrooks and Tillis struck a compromise on stablecoin yield language, but the banking lobby immediately rejected it as insufficient.

🏦 Wall Street Gets On-Chain IPOs
FINRA approved Securitize to underwrite tokenized stock IPOs and custody tokenized securities inside a regulated broker-dealer.

🔍 The IRS Already Has Your Coinbase History
Two former IRS insiders are presenting at Consensus Miami this week on the 1099-DA, the new form that automatically sends your Bitcoin sale records to the IRS.

Affiliation

Help spread the signal, and get paid in sats for it. The Bitcoin Act runs a tiered affiliate program.

Every milestone you hit triggers an automatic email asking for your Lightning address.

Reply, and the sats are sent. → 1 referral = 21 sats → 5 referrals = 210 sats → 10 referrals = 2,100 sats 

Track your progress anytime from the referral dashboard. Your referral link: {{rp_refer_url}}

USA

The CLARITY Act's Stablecoin Yield Fight

Senators Alsobrooks and Tillis struck a compromise on stablecoin yield language inside the CLARITY Act, the big market structure bill that's supposed to set federal rules for the whole industry. The deal tries to ban stablecoin issuers from paying yield that looks like bank interest, while still allowing "activity-based" rewards (think: earn a little for transacting, not just for holding). The banking lobby immediately fired back, saying the language "falls short" and doesn't actually stop platforms from paying deposit-like returns. Translation: banks are scared that a stablecoin offering 4% yield pulls deposits away from your local bank. Coinbase, which had killed an earlier version of this bill, signed off on this one.

What does this mean for you? Nothing directly, you don't hodl stablecoins, you hodl sats. But here's the signal: this bill is the vehicle for broader Bitcoin regulation too. The CLARITY Act draws the lines between what the SEC controls and what the CFTC controls. Bitcoin sits cleanly on the CFTC side, which is historically the more favorable regulator. Every week this stablecoin fight drags on is another week the whole bill stalls. No bill means more regulatory gray zone. Keep watching May.

The Block 

FINRA Just Approved Tokenized Stock IPOs

FINRA, the self-regulatory body that oversees brokers and dealers, just gave a firm called Securitize the green light to underwrite IPOs for tokenized stocks and custody those assets inside a regular broker-dealer. In plain English: a company can now go public and issue its shares directly on a ledger, with Securitize acting as the underwriter (the firm that facilitates the offering), just like Goldman Sachs would for a traditional IPO. FINRA also approved "atomic swaps", meaning you can instantly exchange a tokenized stock for a stablecoin in one step, no multi-day settlement. 

Here's why this matters to you as a Bitcoin holder: the infrastructure being built around tokenized securities is the same infrastructure that will eventually be used to build regulated Bitcoin products, custody, settlement, on-chain ownership. The more FINRA and the SEC get comfortable with on-chain asset custody inside regulated entities, the more normalized the idea of self-custody becomes as a concept. It also means Wall Street is moving fast onto the ledger.

The Block

The IRS Knows What You Did on Coinbase

Two former IRS officials, Raj Mukherjee and Seth Wilks, are presenting at Consensus 2026 in Miami this Thursday on the 1099-DA and where IRS enforcement on Bitcoin is heading. These aren't random academics. Mukherjee and Wilks both worked inside the IRS building the agency's Bitcoin tax infrastructure. They know exactly how the machine works. The 1099-DA is the new tax form that went live for the 2025 tax year. It requires every broker, Coinbase, Kraken, River, all of them, to report your Bitcoin sales directly to the IRS, automatically, the same way Fidelity reports your stock trades. No action needed on your part. The IRS just receives it.

Here's what this means for you concretely: if you bought and sold sats on an exchange this year and didn't report it, the IRS already has a copy of that transaction. Mismatches between your return and a 1099-DA are the easiest audit trigger that exists, it's automated, no agent needed. What the 1099-DA does not capture is what happens after you withdraw to self-custody, on-chain moves between your own wallets, Lightning payments, peer-to-peer swaps. It only protects you if your coins are actually off exchange. Every sat sitting on Coinbase is a sat the IRS has a paper trail on. Self-custody isn't just a sovereignty move, it's your only remaining financial privacy, within the law.

Coindesk

Worldwide

🇳🇱 Netherlands Taxing You Before You Sell
The Dutch government confirmed its unrealized gains tax on Bitcoin, you owe tax on paper profits even without selling. A 61,000-signature petition changed nothing. Box 3 accrual tax launches January 1, 2028.

🇰🇷 Bithumb Gets a Lifeline
A Seoul court temporarily blocked South Korea's FIU from suspending Bithumb six months and fining it ₩36.8B (~$27M) over KYC failures. The exchange stays open while the legal fight continues. 

🇫🇷 Société Générale Is Now Banking Bitcoin Companies
SG-Forge, SocGen's digital asset unit, now serves 15 clients including exchanges, brokers, and wallet providers. MiCA's regulatory clarity is what unlocked this, rather than treating Bitcoin firms as risk exposures, banks are now positioning them as clients. SocGen is also pushing its euro stablecoin EURCV, which grew 60% in 2026 to reach $120M after pivoting to a permissionless distribution strategy. 

🇮🇹 Italy Wants a Tokenized SEPA
The Bank of Italy is urging the EU to tokenize SEPA, the system that moves euros between European banks. A central bank explicitly asking to put monetary plumbing on a ledger. 

🌐 VPNs Are Under Attack
Utah holds websites liable if VPN users bypass age verification, effective May 6. UK and France signaling restrictions next. EU-wide ID verification rolls out across all 27 member states by end of 2026.

🇧🇹 Bhutan Is Dumping Its Bitcoin
Bhutan sold another 303 BTC ($23M) this week. Since peak holdings of 13,000 BTC in 2024, they've sold 75% of their reserves. Sovereign sellers exist at every level. You're the long-term holder they're selling to. Keep stacking.

🇺🇸 Still a US news story but very interesting!
New York extracted a $5M repayment deal from Uphold over the 2020 Cred LLC collapse. Uphold says it was also a victim. No admission of liability. Customers get repaid from bankruptcy scraps.

🇮🇷 Iran's Top Exchange Is the Supreme Leader's Family Business
Reuters found Nobitex, 70% of Iran's Bitcoin volume, 11 million users, was founded by brothers directly related by marriage to all three of Iran's supreme leaders. Hundreds of millions tied to Iran's central bank and IRGC moved through it since 2018. The U.S. just sanctioned Iran's shadow banking network and left Nobitex untouched.

🇫🇷 8 Years for $470M in Crypto Laundering
French national Maximilien de Hoop Cartier was sentenced to eight years by a U.S. court for running an unlicensed OTC exchange that laundered $470M in drug money through shell companies disguised as software firms.

🇪🇺 EU Sanctions Target All of Russia's Crypto Sector
The EU's 20th sanctions package doesn't just designate individuals, it targets Russia's entire Crypto industry. The digital ruble, RUBx stablecoin, and third-country exchanges facilitating Russian flows are all designated. EU citizens banned from transacting with any Russian Bitcoin entity.

Poll

Latest Poll Results

Sovereignty Move of the Week

Every week I drop one concrete, actionable answer to a legal or political question that actually affects your life as a Bitcoiner, focused on a specific, real-world action you can take. No theory. No fluff. Just the move.

This week: How do you keep financial privacy with Bitcoin, legally?

The 1099-DA is live. Chainalysis is under government contract. Banks report everything. The surveillance infrastructure is real. But privacy isn't illegal, it just requires intention.

Here's how to build it, layer by layer:

1. Acquire without linking your identity. Buy peer-to-peer on Bisq or Peach Bitcoin, no KYC, no paper trail. Mine your own, mined Bitcoin is the cleanest acquisition on-chain. If you use a regulated exchange, that's fine, but treat those sats as already known to the IRS.

2. Keep everything in cold storage. Coins on an exchange are coins the government can see, freeze, or subpoena. Hardware wallet, your keys, your Bitcoin.

3. Segregate your UTXOs, never mix them. A UTXO is simply a specific chunk of Bitcoin sitting at a specific address. A KYC sat and a P2P sat in the same wallet transaction = your entire stack potentially linked to your identity. Keep three separate wallets: one for KYC sats, one for P2P, one for mined. Never send between them without a privacy layer.

4. Use privacy tools. CoinJoin breaks the transaction graph, it pools your sats with others so chain analysts can't follow the trail. PayJoin and Silent Payments do the same at the payment level. Tools: Sparrow Wallet (CoinJoin built in), Cake Wallet, JoinMarket.

5. Learn to read the chain yourself. Understanding how you're tracked is the best defense. Start here:

• Mempool.space — visualize transactions in real time

• learnmeabitcoin.com — best plain-English explainer of how Bitcoin transactions work

• Bitcoin Privacy Wiki — comprehensive reference on heuristics analysts use 

Know your enemy. The firms governments use to trace Bitcoin: Chainalysis, Elliptic, and Crystal Intelligence. They collaborate directly with the IRS, FBI, and international regulators.

Coming soon: I'm releasing a full ebook covering exactly how to implement all of this, acquisition, storage, UTXO management, privacy tools, and legal framing.

Got a legal or regulatory question you want answered next Tuesday? Hit reply and send it.

The Market Knows First: Bitcoin Law on Prediction Markets

📊 CLARITY Act signed into law in 2026 — 69% Polymarket

📊 CLARITY Act signed before August — 46% | Before July — 23% Kalshi

📊 Trump eliminates capital gains tax on Bitcoin by Dec 31, 2026 — 5% Polymarket

📊 Americans receive tariff stimulus checks in 2026 — 13% Kalshi

📊 U.S. national Bitcoin reserve established in 2026 — 25% Predyx

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Quote of the Day ⚖️

“There can be no truly moral choice unless that choice is made in freedom.” — Murray Rothbard

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Hello Bitcoiners,

Welcome to issue #42 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🇨🇿 Czech Central Bank Makes the Reserve Case
Governor Aleš Michl argues a 1% Bitcoin allocation raises portfolio returns without adding risk.

📜 Market Structure Bill Heads to Markup
Fox Business reports the bill is "headed toward markup soon," with Republican votes secured.

🪖 Pentagon Calls Bitcoin a War Tool
Secretary of Defense Pete Hegseth declares Bitcoin a tool of U.S. military power projection.

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Opinion and Analysis

Secretary of Defense Pete Hegseth stated that Bitcoin is a tool of power projection for the U.S. military, formally aligning the Pentagon with the national security case for Bitcoin.

Federal Judge Lewis Kaplan rejected Sam Bankman-Fried's bid for a new trial, calling his new evidence claims a "reputation-saving plan." His 25-year fraud conviction stands.

Commentator Magoo PhD noted that FBI Director Kash Patel and Deputy AG Todd Blanche drew a nearly empty room at Bitcoin 2026, revealing how deep Bitcoiner distrust of law enforcement runs.

Ways & Means Chair Jason Smith warned that Bitcoin tax legislation must be bipartisan or he won't move it, putting the entire tax clarity effort on hold pending Democrat cooperation.

Fox Business reported that Bitcoin market structure legislation is "headed toward markup soon," with Republican votes secured, the clearest signal yet that May is the real deadline.

Czech National Bank Governor Aleš Michl argued at Bitcoin 2026 that a 1% Bitcoin allocation raises reserve portfolio returns without increasing risk, becoming the first sitting EU central bank governor to publicly make that case.

Coinbase CEO Brian Armstrong responded with three words, "Mark it up", after senators Tillis and Alsobrooks finalized a stablecoin yield compromise, potentially unblocking the long-stalled Clarity Act Senate markup.

Roman Storm (Tornado Cash developer) warned that software engineers and non-custodial builders can be prosecuted for writing code, even if it's decentralized and immutable. He shared how the government can still charge you as a money transmitter and raid your home with SWAT teams.

BlackRock urged the OCC to drop a proposed 20% cap on tokenized reserve assets in its GENIUS Act draft rules, protecting its BUIDL fund and pushing to expand eligible reserve asset categories.

Bitcoin Policy UK argued that Bitcoin 2026 revealed a global crossroads: Bitcoin is being institutionalized while governments expand KYC and surveillance, forcing a choice between free neutral money and controlled financial infrastructure.

Poll

Latest Poll Results

Earn Sats by Learning

The first people to open and read this newsletter can claim 21 sats! Learn interesting things and earn sats while you’re at it! 👇

Numbers of the Week

🏧 4,000 – Canada proposes banning all Bitcoin ATMs nationwide, citing fraud and money laundering. With nearly 4,000 machines operating, Canada has the highest concentration per capita in the world. Yahoo Finance

💸 $10M – Celsius founder Alex Mashinsky hit with a $10M FTC settlement and a lifetime ban from the financial industry, on top of his 12-year prison sentence for commodities fraud. The Block

📋 Resolution No. 561 – Brazil's central bank formally banned Bitcoin and stablecoins from its regulated cross-border payment framework, pushing all international transfers back into traditional FX channels. The Block

🇰🇵 $285M – North Korea stole 76% of all 2026 hack value through just two attacks, with Drift losing $285M and KelpDAO $292M in 17 days. Rogue states are self-funding through protocol weaknesses. TRM Labs

🇹🇼 80% – Taiwan's Bitcoin reserve push escalates as a legislator delivers a Bitcoin Policy Institute report to the premier, arguing that Bitcoin can diversify reserves currently 80% denominated in U.S. dollars. PR Newswire

📅 On The Radar — Upcoming Dates & Votes to Watch

📌 May 5, 10:35 AM — Rep. Horsford Fireside (Consensus Miami — Workshop Stage) — The congressman behind the new Parity Act on Bitcoin taxation speaks. First real test of whether the tax reform bill has legs.

⚖️ May 5, 10:45 AM — Roman Storm Trial Lessons (Consensus Miami — Spotlight Stage) — Cooley partner Brian Klein breaks down what Storm's first trial means heading into the second. The most important open-source privacy case in the U.S. right now.

🏛️ May 5, 4:10 PM — CFTC Chairman Selig Fireside (Consensus Miami — Anchorage Digital Mainstage) — The man who would oversee Bitcoin under the CLARITY Act speaks publicly. Listen for any markup timeline signals.

🇺🇸 May 6, 10:50 AM — Crypto in DC Panel (Consensus Miami — Anchorage Digital Mainstage) — Blockchain Association and Jito Labs on the industry's evolving Washington relationship. Useful temperature check on where lobbying stands.

🗓️ May 6 — Federal Reserve Bank of New York Monetary History Conference (Day 1) — Fed historians and economists discuss monetary policy alternatives. Bitcoin increasingly enters these rooms whether invited or not.

🏛️ May 7, 11:40 AM — Senator Ashley Moody Fireside (Consensus Miami — Anchorage Digital Mainstage) — A sitting U.S. Senator closes Consensus. Last major signal opportunity before the expected CLARITY Act markup week. 

🏦 May 7, 9:00 AM — Swiss National Bank Foreign Currency Reserves (End of April) — SNB publishes its April reserve figures.

⛰️ May 14–16 — Bitcoin Economic Forum, Brittany (France) — Three days on sovereignty, privacy, and legal threats: fiat not accepted, Bitcoin only. The kind of conversation that doesn't happen at Consensus.

Quote of the Day ⚖️

“It is the opinion appearing chiefly in their writings [of Adam Smith and his followers] that the institutions of economy are always the intended product of the common will of society as such, results of expressed agreement of members of society or of positive legislation.” — Carl Menger

Don’t Forget – Earn Bitcoin while you share!

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Hello Bitcoiners,

Welcome to issue #41 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

⚡ ARMA Bill to Lock Bitcoin as Permanent U.S. Reserve
Rep. Nick Begich reintroduces the BITCOIN Act under a new name, the American Reserves Modernization Act.

🏛️ Bitcoin 2026: White House, FBI, and Congress Go All In
Patrick Witt hints at a big strategic reserve announcement, Senator Lummis confirms market structure legislation gets marked up in May.

🏧 Tennessee Bans Bitcoin ATMs Statewide
Governor Bill Lee signs a full statewide ban on Bitcoin ATMs, effective July 1, making it a criminal offense to operate or host one.

Affiliation

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USA

The BITCOIN Act Is Back — Under a New Name

Rep. Nick Begich (R-AK) announced at Bitcoin 2026 in Las Vegas that he's reintroducing legislation to make Bitcoin a permanent U.S. strategic reserve asset. Rebranded as the American Reserves Modernization Act (ARMA), the bill would codify Trump's executive order into law, meaning no future administration could simply reverse it. It also includes a plan to acquire one million bitcoin over five years using budget-neutral strategies, no new taxes.

This matters because Trump's reserve order currently has no legal teeth, the next president can kill it on day one. ARMA would lock it in through an act of Congress, far harder to unwind. Your stack just got a potential permanent sovereign buyer. Keep hodling.

The Block

Washington Is All In — The Legislative Clock Is Ticking

Bitcoin 2026 in Las Vegas is effectively a Washington relay race this week. White House Executive Director Patrick Witt hinted at a "big announcement" on the strategic Bitcoin reserve "in coming weeks." Senator Cynthia Lummis (R-WY) announced market structure legislation will be marked up "in May", adding: "We are gonna get it to the finish line." SEC Chair Paul Atkins publicly urged Congress to move: "We really need to have congress speak to this area. We're ready, willing, and able." FBI Director Kash Patel said the FBI wants to work proactively with the Bitcoin community and stated plainly: "Bitcoin's not going anywhere." 

Not everyone is aligned though. Senator Thom Tillis (R-NC) is emerging as a friction point, pushing to attach ethics provisions to the market structure bill, a potential roadblock that could slow the whole timeline. Watch May.

Bitcoin Magazine / The Block / Cointelegraph

Tennessee Bans Bitcoin ATMs Statewide

Tennessee just became the second U.S. state, after Indiana, to fully ban Bitcoin ATMs. Gov. Bill Lee signed the bill on April 13, effective July 1. Operating or even hosting one on your property is now a Class A misdemeanor: up to one year in prison and a $2,500 fine. The driver: scammers have weaponized these machines to steal nearly $390 million in 2025 alone, mostly from elderly victims. Thirty states have introduced kiosk bills this year. New Hampshire lawmakers also passed a bill that caps daily transactions at Bitcoin and crypto ATMs to $2,000 and requires fraud refunds and wallet screening.

For self-custody Bitcoiners, the real signal is this: states are now banning Bitcoin infrastructure with unanimous bipartisan votes. The more anonymous on-ramps disappear, the more your self-custody setup is your only sovereign option. Get your sats off exchanges. Hold your own keys.

The Block

Worldwide

🔐 France Charges 88 in Bitcoin Wrench Attack Wave
French prosecutors charged 88 individuals, including 10 minors, for kidnapping and physically assaulting Bitcoin holders to force wallet transfers. 75 are already in pretrial detention. Stop broadcasting your stack on social media.

🇬🇧 UK Opens Tax-Free Bitcoin ETN Access
The FCA lifted its four-year ban on retail Bitcoin ETN purchases in October 2025. Startup Stratiphy is now the first platform letting British investors hold them inside a tax-free ISA account. Still not self-custody, but a real regulatory step forward. 

🇨🇿 Czech Central Bank Governor to Address Bitcoin Reserves Strategy
Governor of the Czech National Bank is speaking today at Bitcoin 2026 in Las Vegas on why the country is moving toward diversifying its reserves with Bitcoin. A European central bank openly treating Bitcoin as a reserve asset is no longer fringe, it is set to become part of official policy. 

🇨🇭 Swiss Working Group Proposes Bitcoin in National Reserves
An independent Swiss working group proposed allocating part of Switzerland's national reserves to Bitcoin instead of accumulating more U.S. dollars. The Swiss National Bank hasn't committed yet, but the conversation is now happening at the top. 

👩‍⚖️ Saipan Scammer Gets 71 Months for Bitcoin Fraud
A 30-year-old woman was sentenced to nearly 6 years in federal prison for targeting elderly women with a fake Bitcoin investment scheme. She built emotional trust before stealing. Courts ordered $769,355 in restitution. Bitcoin is not the scam, protect the people around you.

🇫🇷 French Tax Leaks Are Getting Bitcoiners Kidnapped
French prosecutors flagged 41 Bitcoin holder kidnappings in France in 3.5 months of 2026. Telegram founder Pavel Durov pointed to a likely driver: French tax officials allegedly selling Bitcoin owners' data to criminals, compounded by massive government database leaks.

🪖 Bitcoin Framed as Emerging U.S. Strategic Asset
Rob Wallace of Bitcoin News argues that Admiral Samuel Paparo’s Congressional testimony reinforces the idea that Bitcoin is being understood through a national security lens. Interpreting the discussion through Jason Lowery’s “Softwar” thesis, he suggests that Bitcoin is increasingly viewed as a tool for power projection and cybersecurity, positioning BTC as a strategic asset in the context of U.S.–China rivalry.

🇯🇵 Bank of Japan Holds Rates, Cites Iran War
The Bank of Japan held its benchmark rate steady at 0.75%, citing the Iran war and rising energy prices. Central banks are frozen. Every time that happens, 21 million looks more credible.

🇨🇦 Canada Launches $25B Sovereign Wealth Fund
Canada announced its first-ever sovereign wealth fund, the "Canada Strong Fund", with C$25 billion to deploy. No Bitcoin allocation yet. The question is no longer if, it's when.

🇫🇷 France's Economy Minister Pushes Euro Stablecoins
France's Economy Minister is backing euro-denominated stablecoins. Société Générale's EURCV is already live with strong volume, and other French banks are expected to follow. A euro stablecoin is still a euro, same debasement, same state control, just faster.

Poll

Latest poll results

Sovereignty move of the week

Every week I drop one concrete, actionable answer to a legal or political question that actually affects your life as a Bitcoiner, focused on a specific, real-world action you can take. No theory. No fluff. Just the move.

This week: What can you do as a citizen to push for better Bitcoin legislation in the U.S.?

The bills are moving. ARMA, market structure legislation, reserve frameworks — Washington is closer than it's ever been. But Congress moves when it feels pressure. Here's how you apply it:

1. Contact your representative directly. Go to btcismoney.xyz, it shows you exactly who represents you and how to reach them. One email or call from a constituent carries more weight than you think.

2. Orange-pill a local merchant. The most powerful lobbying is ground-level adoption. Show a business owner Square or Wallet of Satoshi to accept Lightning payments in minutes. Then tell them to list their shop on btcmap.org so other Bitcoiners find them. A merchant who accepts Bitcoin becomes a citizen who cares about Bitcoin policy.

3. Vote with Bitcoin in mind. Every election cycle, look up where your candidate stands on Bitcoin, taxation, self-custody rights, reserve policy. It's a filter, not a single issue.

4. Stay informed. You're already here. Keep showing up.

Got a legal or regulatory question you want answered next Tuesday? Hit reply and send it. Best question gets the next Sovereignty Move.

The Market Knows First: Bitcoin Law on Prediction Markets

📊 Clarity Act signed into law in 2026 — 45% (Polymarket)

📊 Clarity Act signed before August — 7.5% | Before July — 11% (Kalshi)

📊 U.S. national Bitcoin reserve established before 2027 — 56% (Polymarket)

📊 Trump pardons Samourai Wallet dev before Dec 31, 2026 — 27.75% (Predyx)

📊 Democrats win the U.S. House in 2026 — 86% (Predyx)

Earn sats by learning ⭐️

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Quote of the day ⚖️

“This is a case that matters to bitcoiners and to the country at large. A pardon is the path, and I think it's justly deserved.” — Lauren Rodriguez, wife of Keonne Rodriguez

Don’t forget – Earn Bitcoin while you share!

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Hello Bitcoiners,

Welcome to issue #40 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🏛️ Bitcoin Enters Political Strategy Phase
French media reports political elites are studying Bitcoin as an electoral tool, showing it is becoming central to political strategy.

⚖️ South Africa Pushes Hard Bitcoin Disclosure Rules
South Africa proposes strict Bitcoin disclosure rules and possible forced sales.

🏦 Russia Moves Toward State-Linked Bitcoin Markets
Russia’s Sberbank confirms it will offer Bitcoin services once new law classifies Bitcoin as property and enables licensed exchanges.

Affiliation

If you want to help spread the signal, you can earn 21 sats for every new Bitcoiner you refer, with no limits. Share your unique referral link, and each signup through it earns you sats, paid directly over Lightning. Simple, transparent, and fully aligned with Bitcoin.

Your referral link: {{rp_refer_url}}

Opinion and analysis

Dennis Porter (CEO, Satoshi Action Fund) warns urgent U.S. action is needed, pushing de minimis tax exemption, software protection, Strategic Bitcoin Reserve, and domestic mining to secure national sovereignty.

BFM TV reports French politicians, including Gabriel Attal, are studying Bitcoin to gain electoral advantage, signaling a shift where understanding Bitcoin becomes politically strategic in national campaigns.

Scott Bessent (U.S. Treasury Secretary) announces sanctions freezing $344 million in wallets tied to Iran, while Lawrence Lepard argues this demonstrates escalating capital controls Bitcoin is designed to resist.

Kevin Warsh (Federal Reserve Chair nominee) states the Fed lacks legal authority to issue a CBDC, pledging not to pursue one, but don’t forget, Bitcoin is the only neutral, permissionless money.

Admiral Samuel Paparo (U.S. Indo-Pacific Commander) reveals the military is running a Bitcoin node to test securing networks, signaling institutional recognition of Bitcoin as critical infrastructure, not just money.

Senator Cynthia Lummis (R-WY) advances that bipartisan and presidential support align, urging immediate passage of Bitcoin-friendly legislation, framing this moment as decisive for U.S. monetary leadership.

Sasha Hodder (partner, Hodder Law Firm) argues legal accountability matters, inviting public questions for a prosecutor panel on Bitcoin prisoners (at the Bitcoin Conf), highlighting ongoing tensions between code, freedom, and state enforcement.

South African Treasury proposes strict controls forcing disclosure and potential sale of Bitcoin holdings. Critics argue the proposal violates privacy, property rights, and freedom of association. BTCBreakdown said grassroots resistance is essential, as Bitcoin adoption only survives when builders push back.

Zack Shapiro of the Bitcoin Policy Institute has singled out the regulatory treatment of AI agents under KYC/AML rules as the single most pressing legal challenge facing digital assets today. He is calling on Congress to swiftly pass the Clarity Act, warning that failure to do so could trigger damaging regulatory fallout for Bitcoin-related software.

Sberbank (Russia’s largest state bank) stated it will offer clients Bitcoin buying and selling once a pending Russian law, classifying Bitcoin as property, is fully enacted and operational.

Poll

Latest poll results

Earn sats by learning

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Numbers of the week

🗓️ September 30 – China sets deadline for new rules banning Bitcoin promotion, restricting online financial advertising to licensed entities, and expanding its long-standing prohibition on Bitcoin trading and related activities. CoinCentral

🏢 8 – UK’s Financial Conduct Authority raided eight locations in London targeting illegal peer-to-peer Bitcoin trading, signaling intensified enforcement against unregistered activity and financial surveillance expansion. FCA

⚡ 1% – Uzbekistan launches a state-backed Bitcoin mining zone offering 10-year tax exemptions and a fixed 1% monthly fee, aiming to attract miners under controlled regulatory conditions. Cryptopolitan

🔞 21 – New York sues Coinbase and Gemini, arguing prediction markets qualify as illegal gambling, highlighting that users under the legal betting age of 21 accessed these platforms. Bitcoin Magazine

👥 2 – U.S. authorities charged two Chinese nationals for operating a Myanmar compound forcing workers into Bitcoin-related fraud schemes, exposing the darker side of state-tolerated financial exploitation. Washington Post

Quote of the day ⚖️

“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.” — Friedrich Hayek

Don’t forget – Earn Bitcoin while you share!

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Hello Bitcoiners,

Welcome to issue #39 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🏛️ Senate Delays CLARITY Act Markup 
Senator Thom Tillis said the Senate Banking Committee will not hold a markup on the CLARITY Act in April.

🛡️ Jason Lowery Appointed to Indo-Pacific Command 
Jason Lowery has been named Special Assistant to the Commander of U.S. Indo-Pacific Command.

⚠️ BIS Warns Against Dollar Stablecoins 
The head of the Bank for International Settlements warned that the rising use of U.S. dollar stablecoins for international payments poses risks to financial integrity.

Affiliation

If you want to help spread the signal, you can earn 21 sats for every new Bitcoiner you refer, with no limits. Share your unique referral link, and each signup through it earns you sats, paid directly over Lightning. Simple, transparent, and fully aligned with Bitcoin.

Your referral link: {{rp_refer_url}}

USA

Senate Delays CLARITY Act Markup

Senator Thom Tillis, a key negotiator on the Senate Banking Committee, told reporters he does not expect the committee to hold a hearing or markup on the CLARITY Act in April. He indicated the panel should instead target May to allow more time to finalize the compromise on stablecoin yield.

For everyday Bitcoin holders, this is the bill we have been talking about for a very long time. Some Bitcoiners strongly support the CLARITY Act for the clarity and self-custody protections it could bring, while others are against it because of the compromises being made to please banks. With Polymarket currently giving only 47% chance it passes in 2026 and midterms approaching, the door is closing.

The Block

Jason Lowery Appointed to Indo-Pacific Command

Jason Lowery, author of Softwar and a leading voice on Bitcoin’s strategic importance as a form of power projection through proof-of-work, has been appointed Special Assistant to the Commander of U.S. Indo-Pacific Command. In this role, he will directly advise the commander on strategic priorities for the Department of Defense in the region.

For Bitcoiners who understand Bitcoin as hard money and digital energy, this is a significant signal. Lowery’s core thesis, that control of hashrate is a new domain of national power, is now being brought directly into one of America’s most critical military commands. In your everyday life, it reinforces that Bitcoin is no longer just personal savings, it is increasingly seen at the highest levels as a strategic asset that matters for national security and global power dynamics.

Bitcoin Magazine

BIS Warns Against Rising Use of Dollar Stablecoins

The head of the Bank for International Settlements, Pablo Hernández de Cos, warned that the growing use of U.S. dollar stablecoins for international payments poses risks to financial integrity, including regulatory circumvention, capital control evasion, and tax evasion.

For Bitcoiners, this is a loud and clear reminder: stablecoins are just on-chain fiat. They are convenient, but they come with the same devaluation, control, and counterparty risks as traditional banking, only faster. In your daily life, the message is simple and unchanged, stick to Bitcoin. Hold your own keys, stack real sats, and treat stablecoins as temporary tools at best, never as a substitute for sound money.

Bitcoin.com

Worldwide

🚨 Counterfeit Ledger Devices Exposed
Security researcher revealed a large-scale operation distributing fake Ledger Nano S Plus devices with malicious hardware and software designed to steal Bitcoin transactions.

🇫🇷 France Faces 41 Crypto Kidnappings
French authorities reported 41 cryptocurrency-related kidnappings in 2025, averaging one every 2.5 days, as part of a global surge in wrench attacks.

🇬🇧 Liz Truss Backs Bitcoin
Former UK Prime Minister Liz Truss declared that Bitcoin will be a key part of the British counter-revolution. 

🇬🇧 UK FCA Consults on Crypto Rules
Britain’s Financial Conduct Authority launched a consultation on proposed regulations for Bitcoin trading platforms and custody, set to take effect by October 2027.

🌍 FATF Urges Faster Crypto Standards
The FATF called for rapid global rollout of crypto standards, warning that cross-border enforcement gaps are raising systemic risks and enabling illicit finance.

🇫🇷 French Minister Pushes Euro Stablecoins
French Finance Minister Roland Lescure said Europe needs more euro-pegged stablecoins to challenge U.S. dominance and urged banks to launch tokenized deposits.

🇨🇭 Satoshi Statue Vandalized Again
The Satoshi statue in Lugano, Switzerland, was vandalized for the second time after being thrown into the lake last summer.

🇵🇱 Polish PM Accuses Crypto Firm
Polish Prime Minister Donald Tusk claimed a crypto firm tied to the Russian mafia and secret service sponsored political rivals and backed a candidate.

🇧🇷 Brazil Arrests Singers in Laundering Ring
Brazilian police arrested singers MC Ryan SP and others in Operation Narco Fluxo, dismantling a $320 million crypto money laundering ring across eight states. 

🇫🇷 Yield Issue Spreads to France
French TV confirmed the stablecoin yield debate has reached France, with industry leaders warning it will expand across Europe.

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Quote of the day ⚖️

“Producing laws is not an easier job than producing cars and food, so if the government is incompetent to produce cars or food, why do you expect it to do a good job producing the legal system within which you are then going to produce the cars and the food?” — David D. Friedman

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Hello Bitcoiners,

Welcome to the #38 issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🇵🇰 Pakistan Opens Banks to Bitcoin
Bilal bin Saqib announced Pakistan’s central bank will now allow licensed Bitcoin providers to open bank accounts.

🌍 Sovereign Bitcoin Race Accelerates Quietly
Natalie Brunell thinks nations are quietly stacking and protecting Bitcoin on a global scale.

🇫🇷 France Cracks Down on Bitcoin Wrench Attacks
Jean-Didier Berger confirmed France is rolling out new measures to stop rising Bitcoin kidnappings and wrench attacks.

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Opinion and analysis

Jean-Didier Berger (France Interior Ministry delegate) said France is preparing new measures to stop the surge in Bitcoin wrench attacks and ransom kidnappings, following a recent abduction attempt in Burgundy.

Bilal bin Saqib (Chairman, Pakistan Virtual Assets Regulatory Authority) said the central bank’s decision to let banks open accounts for licensed Bitcoin service providers is a foundational step that formally brings Bitcoin into Pakistan’s regulated financial system.

Cato Institute (Washington think tank) criticized America’s current Bitcoin tax rules, arguing they create impossible administrative burdens that prevent ordinary citizens from using Bitcoin for everyday payments.

Polish President Nawrocki vetoed the Bitcoin regulation bill for the second time, declaring he will not sign a wrong law even if Parliament passes it a hundred times.

Fox Business reported that Bitcoin has become a lifeline for many Iranians as their local currency collapses, noting you cannot freeze someone’s Bitcoin the way governments freeze stablecoins.

Bitcoin Policy Institute argued that Iran’s plan to collect Bitcoin tolls from oil tankers in the Strait of Hormuz is virtually impossible due to Bitcoin’s liquidity and speed limitations.

Natalie Brunell (Bitcoin journalist) said the global sovereign Bitcoin race is happening quietly right now as nations accumulate and protect sound money.

Nikkei reported that Japan’s government approved amendments to the Financial Instruments and Exchange Act, classifying Bitcoin as a financial instrument and banning insider trading on non-public information.

Lawyer at Latham & Watkins explained that fewer European companies can copy MicroStrategy’s Bitcoin treasury strategy because of strict regulations and limited options for raising capital through convertible bonds.

Florent Gabriel (Blobb.io CEO) and other Bitcoin industry CEOs said their meeting with French Members of Parliament was constructive and productive, covering the upcoming 2026 Bitcoin tax changes, the future of mining, cold wallet reporting requirements, and the potential issuance of a French stablecoin.

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Numbers of the week

🇷🇺 $4,000 – Russia introduced a bill to criminalize unregistered Bitcoin services, hitting individuals with fines up to $4,000 or up to four years in prison for operating without a license. Cointelegraph

🇺🇸 8.2 BTC – U.S. government moved 8.2 BTC ($628K) from the 2016 Bitfinex hack seizure to Coinbase Prime, the latest transfer of seized Bitcoin from federal custody. Bitcoin News

🇺🇸 $250K – Congresswoman Sheri Biggs purchased up to $250,000 in Bitcoin ETFs, showing growing political interest in stacking Bitcoin at the federal level. Bitcoin Magazine

🏛️ SB 2639 – Tennessee’s Strategic Bitcoin Reserve Act (SB 2639 / HB 1695) is now scheduled for a Senate hearing next Tuesday. Bitcoin Magazine

⚖️ $20M – Texas man sentenced to 23 years in prison for running a $20 million Crypto scam falsely backed by Picasso and Van Gogh artwork. The Block

Quote of the day ⚖️

“The human economy and property have a common economic origin... property is thus not an arbitrary invention, but rather the only possible practical solution to the problem that the nature of things... imposes on us.” — Carl Menger

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Hello Bitcoiners,

Welcome to issue #37 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🏛️ Senate Accelerates CLARITY Act Negotiations
The U.S. Senate returned from recess and immediately resumed work on the CLARITY Act.

🔧 CFTC Launches Innovation Task Force
The Commodity Futures Trading Commission announced a new Innovation Task Force staffed with experts to develop clear regulatory rules.

🛡️ SEC Exempts Certain Bitcoin Interfaces
The SEC issued a staff statement clarifying when user interfaces connected to self-custodial Bitcoin wallets do not need to register as broker-dealers.

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USA

Senate Accelerates CLARITY Act Negotiations

The U.S. Senate returned from Easter recess and immediately restarted work on the CLARITY Act. The Senate Banking Committee is now aiming for a markup vote in the last two weeks of April 2026. Senator Thom Tillis said he plans to release a new draft this week resolving the stablecoin yield dispute that has stalled the bill for months.

For everyday Bitcoin holders, this is the bill that has been discussed for so long. Senator Cynthia Lummis has been crystal clear, it’s now or never. If the CLARITY Act finally passes, it will deliver real federal protection for your self-custody rights. In your daily life, that means far fewer surprise enforcement actions and much more predictable rules.

The Block

CFTC Launches Innovation Task Force

The Commodity Futures Trading Commission announced a new Innovation Task Force made up of internal staff and private-sector experts in blockchain, and related technologies. The group’s job is to develop clear regulatory rules specifically for Bitcoin innovators.

In practical terms, it increases the likelihood of more sensible, innovation-friendly rules coming from the CFTC instead of the SEC. This could mean fewer regulatory roadblocks for developers building tools you actually use, from wallets to Lightning services, making it easier for better Bitcoin infrastructure to be built openly in America.

CFTC

SEC Exempts Certain Bitcoin Interfaces from Broker Rules

The SEC’s Division of Trading and Markets issued a staff statement outlining when certain user interfaces connected to self-custodial Bitcoin wallets do not need to register as broker-dealers. The exemption applies if the interface does not solicit trades, does not recommend execution routes, and follows basic policies on trading venues.

For you as a Bitcoiner, this is concrete relief. Many simple wallet interfaces and tools you use every day to send, receive, or swap sats can now operate without the crushing cost and legal risk of broker-dealer registration. In your daily life, this means more useful, self-custody-first Bitcoin software can be built and offered in the U.S. without suddenly being shut down, so you get better tools while keeping full control of your keys and your sats.

The Block

Worldwide

🚨 Kraken Faces Extortion After Insider Incident
Kraken revealed a criminal group is attempting to extort the exchange by threatening to release videos of internal systems and limited client data from two insider support staff incidents affecting about 2,000 accounts.

🇪🇺 ClearBank Wins First MiCA Bank Approval
ClearBank became one of the first traditional banks approved under the EU’s MiCA framework, expanding regulated Bitcoin services across Europe. 

🇰🇷 Bank of Korea Demands Circuit Breakers
The Bank of Korea called for mandatory circuit breakers on Bitcoin exchanges after the Bithumb fat-finger error exposed weak internal controls and triggered sharp market disruptions.

🇰🇷 Coinone Fined $3.5M
South Korea’s FIU fined Coinone 5.2 billion won ($3.5 million) and imposed a three-month partial suspension for 70,000 identity verification failures.

👀 Fake Ledger App Steals 5.9 BTC
Musician G. Love lost 5.9 BTC worth $420,000 after downloading a fake Ledger app from the App Store and entering his seed phrase.

🇪🇺 ECB Backs Tokenization with Safeguards
The European Central Bank stated tokenization can strengthen EU capital markets but only with central bank money, interoperable systems, and strong regulation to manage risks. 

🇧🇾 Belarus Opens Door to 25 Cryptos
Belarus’ National Bank announced that around 25 cryptocurrencies, including Bitcoin and stablecoins, may soon be allowed for licensed crypto banks.

🇰🇷 Bank of Korea Nominee Favors CBDC
Bank of Korea governor nominee Shin Hyun-song backed a central bank-led digital currency model with strict AML controls and a limited role for stablecoins.

🇯🇵 Japan Reclassifies Bitcoin as Financial Instrument
Japan passed a major amendment to the Financial Instruments and Exchange Act, officially reclassifying Bitcoin as a financial instrument, banning insider trading, and requiring annual disclosures from issuers.

🇰🇪 Kenya Advances VASP Regulations
Kenya’s National Treasury completed public consultations on draft Virtual Asset Service Provider regulations, moving closer to a full licensing framework for Bitcoin firms.

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Quote of the day ⚖️

“It is not the business of the law to make anyone good or reverent or moral or clean or upright.” — Murray N. Rothbard

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Hello Bitcoiners,

Welcome to the #36 issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🇯🇵 Japan Classifies Bitcoin as Financial Product
Japan’s cabinet approved a bill reclassifying Bitcoin as a financial product, paving the way for stronger rules from fiscal year 2027.

🇮🇷 Iran Accepts Bitcoin for Strait of Hormuz Tolls
Financial Times reports Iran will require ships to pay tolls in Bitcoin for sanctions-proof settlement.

🏛️ Bessent Urges CLARITY Act Passage
Treasury Secretary Scott Bessent calls on Senate Republicans to hold a markup on the CLARITY Act and send it to President Trump’s desk.

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Opinion and analysis

Treasury Secretary Scott Bessent urged Senate Republicans to hold a markup on the CLARITY Act and send it straight to President Trump’s desk, warning that Congress has already wasted half a decade on this critical framework.

Financial Times reported Iran may soon require ships transiting the Strait of Hormuz to pay tolls directly in Bitcoin, allowing vessels to avoid sanctions tracing.

David Sacks (President Trump’s former AI and Crypto Czar) said the CLARITY Act will deliver the same clear rules for Bitcoin that the GENIUS Act gave stablecoins, urging the Senate to pass it now so President Trump can sign it into law.

Japan’s cabinet approved a bill classifying Bitcoin as a financial product, moving it out of the Payment Services Act and paving the way for stronger regulatory treatment starting fiscal year 2027.

SEC Chair Paul Atkins said the SEC and CFTC are fully ready to implement the CLARITY Act the moment Congress passes it, echoing Treasury Secretary Bessent’s call for immediate market structure legislation.

U.S. Treasury announced a new initiative giving Bitcoin firms free access to the same high-level cybersecurity intelligence that traditional banks receive, strengthening the entire ecosystem.

Sen. Elizabeth Warren (D-MA) is probing a token-gated gala for potential influence peddling, raising fresh concerns about political corruption and financial gain tied to crypto events.

European Central Bank endorsed centralizing supervision of major Bitcoin firms under the Paris-based ESMA watchdog, calling for unified EU oversight of large cross-border players.

Jacob Robinson (legal analyst) explained that English law still treats Bitcoin as property but currently denies conversion claims in theft cases, leaving victims with weaker remedies than in Canada or Texas.

White House study found that banning stablecoin yield would do very little to protect bank deposits, removing a major objection and clearing the path for the CLARITY Act to advance.

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Numbers of the week

🇬🇧 £4M – BitMEX co-founder Ben Delo donated £4 million to Nigel Farage’s Reform UK party while the UK government pushes to ban all Bitcoin political donations. CoinDesk

🇧🇹 $18M – Bhutan moved another $18 million in Bitcoin, continuing to shrink its tracked holdings from a 2024 peak of nearly 13,000 BTC. The Block

🇺🇸 $12M – U.S. Secret Service froze $12 million in stolen crypto during Operation Atlantic, disrupting a global fraud network that hit victims in over 30 countries. The Block

🇺🇸 2.4 BTC – The U.S. government transferred 2.4 BTC ($177K) to Coinbase Prime, the latest move of seized Bitcoin from federal custody. Bitcoin News

⚠️ 50.9 BTC – Hacker stole 50.9 BTC ($3.7M) from Bitcoin Depot after breaching internal systems tied to corporate wallets. Bitcoin News

Quote of the day ⚖️

“Rightful liberty is unobstructed action according to our will, within the limits drawn around us by the equal rights of others. I do not add ‘within the limits of the law’, because law is often but the tyrant’s will, and always so when it violates the right of an individual.” — Thomas Jefferson

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Hello Bitcoiners,

Welcome to issue #35 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🔐 SEC Safe Harbor Heads to White House
SEC Chair Paul Atkins confirmed the proposed safe harbor framework for new Bitcoin projects has reached the White House for final review.

🏛️ Senate Eyes CLARITY Act Vote in April
Senator Bill Hagerty announced the Senate Banking Committee could advance the long-stalled CLARITY Act as early as April.

⛏️ Arkansas Protects Home Bitcoin Miners
Arkansas introduced SR7 to sharply limit local governments from banning or restricting home Bitcoin mining and small-scale operations.

Affiliation

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USA

SEC Safe Harbor Proposal Heads to White House

SEC Chair Paul Atkins announced that the agency’s proposed safe harbor framework for new crypto projects has been sent to the White House for final review. The proposal includes a four-year “startup exemption” that would let teams raise capital with clear disclosures while avoiding immediate full registration, plus an innovation exemption designed as a regulatory sandbox for on-chain tools.

In your daily life, this means more sovereign Bitcoin tools, stronger wallets, better Lightning wallets, and privacy layers, will actually be built in America instead of fleeing offshore out of regulatory fear. You’ll get higher-quality, more freedom-focused tools, with far less risk that a useful project suddenly gets destroyed by an SEC enforcement action.

The Block

Senate Banking Committee Eyes CLARITY Act Vote in April

Senator Bill Hagerty stated that the Senate Banking Committee could advance the long-stalled CLARITY Act as early as April. The bill would divide oversight between the SEC and CFTC, clarify self-custody rights, and set clearer rules for spot Bitcoin markets.

For Bitcoin holders, this Act is the most important market structure bill right now. It aims to create clear federal rules by dividing oversight between the CFTC (for Bitcoin as a commodity) and the SEC, while explicitly protecting self-custody rights. For everyday stackers, this would reduce the gray area that allows regulators to threaten or reinterpret rules at any time. It would make it harder for agencies to treat your personal wallet or node as a regulated entity, lead to more predictable enforcement, and give clearer legal ground when you buy, hold, move, or spend your sats.

Cointelegraph

Arkansas Protects Home Bitcoin Miners

Arkansas introduced SR7, a bill that would amend the state’s Data Centers Act and sharply limit local governments’ power to restrict or ban home Bitcoin mining and small-scale operations. The legislation clarifies that home miners only need to follow existing noise, utility, and tax rules and cannot be forced to get special permits.

For Bitcoiners who run a node or miner at home, this is real protection. Local busybodies or HOAs will have much less power to shut you down, letting you mine sats quietly and contribute to the network’s hashrate without constant legal harassment. In everyday life it means you can keep your home setup running, earn more sats from your own electricity, and strengthen Bitcoin’s decentralization without looking over your shoulder every time the city council meets.

BillTrack

Worldwide

🚨 IEA Warns of Historic Energy Crisis
The International Energy Agency chief declared the current global energy disruption is more serious than the combined crises of 1973, 1979, and 2002.

🇰🇷🇫🇷 SK & France Central Banks Hold Seminar
South Korea and France central banks held a joint seminar on Bitcoin and digital assets and their growing impact on the global monetary system. 

🇨🇳 China Urges Blockchain for SME Lending
China’s tax authority is pushing banks to adopt blockchain technology to increase lending to small businesses and close information gaps.

🇷🇼 Rwanda Rejects Bybit RWF P2P
Rwanda’s Central Bank warned that Bitcoin and crypto remain unauthorized for payments or trading in Rwandan Franc after Bybit launched RWF on its P2P platform.

🌍 IMF Warns on Tokenization Risks
The IMF warned that tokenization could amplify market volatility through automated smart contracts and called for stronger global legal frameworks.

🇦🇺 Australia Passes Landmark Bitcoin Law
Australia passed comprehensive legislation requiring all Bitcoin exchanges and custodians to obtain full financial services licenses and meet strict capital and custody rules. 

🇯🇵 Japan Approves Crypto Tax Reform
Japan passed reforms shifting Bitcoin taxation to a flat 20.315% rate from 2028 with a three-year loss carryforward, moving away from the old 55% miscellaneous income tax.

🇷🇺 Russia Formalizes Bitcoin Market
Russia introduced three new bills to legalize and regulate Bitcoin transactions, set annual purchase limits for non-qualified investors, and mandate tax reporting.

🇮🇳 India Sends Tax Notices to Bitcoin Traders
Indian tax authorities are issuing reassessment notices to Bitcoin traders for unreported activity from earlier years, using automated systems to flag discrepancies.

🇭🇰 Hong Kong Delays Stablecoin Licensing Rollout
Hong Kong has not issued any HKD stablecoin licenses after missing its March target, raising concerns about regulatory delays and strict approval standards.

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Quote of the day ⚖️

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.” — Thomas Jefferson

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Hello Bitcoiners,

Welcome to the #34 issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🧠 TD Cowen on Clarity Act
TD Cowen analysts give the Clarity Act just one-in-three odds of passing this year as Senate talks on stablecoin yield continue.

🤖 Bitcoin Policy Institute Shows AI Prefers Bitcoin
Bitcoin Policy Institute revealed that across 9,000+ scenarios, 36 frontier AI models overwhelmingly chose Bitcoin as their preferred form of money.

🔍 ZachXBT Highlights Tether vs Circle
ZachXBT exposed Circle’s repeated failure to freeze stolen USDC in major hacks while Tether acted quickly to protect victims.

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Opinion and analysis

Bitcoin Policy Institute said it tested 36 frontier AI models across more than 9,000 neutral scenarios and the agents overwhelmingly chose Bitcoin as their preferred money, proving even machines recognize sound money over failing fiat.

TD Cowen analysts warned they are increasingly pessimistic on the Clarity Act passing this year, giving it just one-in-three odds as the stablecoin yield compromise fails to satisfy banks or exchanges and Senate talks stall.

Pierre Rochard (Bitcoin advocate) argued a Bitcoin wrench attack would draw only 1–3 years in French prison versus 8–15+ years in Texas under Castle Doctrine, exposing Europe’s weak protection of private property rights.

Sen. Bill Cassidy (R-LA) said digital asset mining is a vital part of the U.S. economy and his Mined in America Act will secure supply chains, bolster domestic manufacturing, and strengthen the Strategic Bitcoin Reserve.

ZachXBT (on-chain investigator) exposed Circle’s repeated refusal to freeze stolen USDC in major hacks like Radiant Capital, Garantex, and Bybit while Tether acted fast, leaving victims with hundreds of millions in unrecoverable losses.

Pierre Wunsch (Governor, National Bank of Belgium) warned “the money has run out” and Belgium has no fiscal room left to cushion another energy shock, exposing the terminal fragility of over-spent fiat systems.

Charles Hoskinson (Cardano founder) warned the Clarity Act could be weaponized by future lawmakers to stifle innovation, trap new crypto projects under SEC control, and become a political tool.

Liz Churchill (Bitcoin advocate) condemned California Democrats for legalizing government seizure of inactive Bitcoin holdings, calling it outright theft and communism disguised as policy.

Paul Grewal (Coinbase Chief Legal Officer) signaled Clarity Act talks are very close to a final deal on stablecoin earnings, raising hopes the bill can finally deliver real regulatory clarity for Bitcoin.

Coinbase announced it received conditional OCC approval to form a National Trust Company, advancing federally regulated Bitcoin custody and giving serious HODLers a trusted path to institutional-grade self-custody.

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Numbers of the week

🇹🇼 80% – Taiwan holds $602B in foreign reserves with over 80% in USD; Bitcoin Policy Institute warns that in a PRC blockade, only Bitcoin remains sovereign and spendable. Bitcoin Policy Institute

💰 $3.7M – Former FTX engineering head Nishad Singh fined $3.7M by CFTC to settle charges tied to the exchange’s collapse while cooperating with authorities. CoinBureau

🇰🇭 112 – Cambodia’s parliament unanimously passed the Anti-Technology Fraud Law with all 112 members voting yes, cracking down on online scam compounds and related money laundering. The Block

🇦🇺 12 months – Australia passed a bill requiring crypto platforms to obtain financial licenses, enforce honest conduct, and protect customer funds, with full compliance due in 12 months. The Block

📊 60% – Polymarket now prices the odds of the Clarity Act being signed into law in 2026 at 60%. Polymarket

Quote of the day ⚖️

“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.” — Friedrich Hayek

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Hello Bitcoiners,

Welcome to issue #33 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🇺🇸 Mined in America Act Advances
Senators Cynthia Lummis and Bill Cassidy push to lock in a U.S. strategic Bitcoin reserve and expand domestic mining.

⚖️ Bitcoin Policy Institute Slams PARITY Act
The Bitcoin Policy Institute warns the draft favors stablecoins over Bitcoin, risking unfair taxes on everyday BTC use and disadvantaging miners.

💼 401(k)s Open to Bitcoin
The U.S. Department of Labor moves to allow Bitcoin in retirement plans, potentially unlocking trillions in capital.

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USA

Mined in America Act Advances in Senate

Republican Senators Cynthia Lummis and Bill Cassidy introduced the Mined in America Act to codify President Trump’s strategic Bitcoin reserve into permanent law and expand domestic Bitcoin mining. The bill creates a voluntary certification program for mining pools and facilities while requiring certified operators to phase out mining hardware from foreign adversaries. 

For everyday Bitcoin holders, this is a direct boost to American Bitcoin sovereignty. Stronger domestic mining means more decentralized hashrate on U.S. soil, harder for any government to attack the network, and a growing strategic reserve that treats Bitcoin as national hard money. In your daily life, it signals that stacking sats is no longer just personal, it’s becoming national policy that protects the very network you rely on.

The Block

Bitcoin Policy Institute Slams PARITY Act Draft

The Bitcoin Policy Institute publicly criticized the revised PARITY Act, warning it creates unfair tax treatment by granting a $200 de minimis exemption only to stablecoins while excluding Bitcoin, and by limiting tax deferral on newly mined coins to passive validators, leaving Bitcoin miners stuck with phantom income taxes.

For Bitcoiners, this is a warning shot. If the bill passes as written, everyday spending of sats for coffee or bills still triggers capital gains tax, and American miners get punished compared to proof-of-stake systems. Your real-world takeaway: keep stacking and holding in self-custody, support only legislation that treats Bitcoin mining and small transactions fairly, and never let Washington pick winners between consensus mechanisms.

Bitcoin Policy Institute

Labor Department Opens 401(k)s to Bitcoin

The U.S. Department of Labor proposed a new rule allowing 401(k) retirement plans to include Bitcoin as an alternative asset, following Trump’s executive order. Plan managers must now evaluate Bitcoin using the same prudent standards as other investments, potentially unlocking trillions in American retirement savings.

For you as a Bitcoiner, this is massive. Millions of workers could soon allocate part of their retirement to Bitcoin without needing a separate brokerage account. In practical terms, it makes long-term stacking easier for millions and brings new capital into the network, but remember, true sovereignty still means holding your own keys, not leaving sats in any third-party plan. Use this as a bridge, not a destination.

The Block

Worldwide

🇭🇰 Hong Kong Forces Device Decryption
Hong Kong’s new national security law lets authorities demand passwords and decryption keys for any device, including hardware wallets, with criminal penalties for refusal, even for travelers and tourists.

🇨🇦 Canada Bans Bitcoin Political Donations
Canada introduced Bill C-25 to prohibit all Bitcoin and crypto donations to federal political parties under new election integrity rules. 

🇦🇪 Dubai Tightens Derivatives Rules
Dubai’s VARA imposed strict new governance, margin, disclosure, and risk controls on all licensed platforms offering Bitcoin derivatives and margin trading.

🇦🇺 Binance Australia Fined $6.9M
Australia’s Federal Court fined Binance Australia Derivatives AUD 10 million ($6.9 million) for widespread compliance and client onboarding failures.

🇬🇧 UK Sanctions Cambodia Scam Centre
The UK sanctioned a major Cambodian scam compound and a crypto platform used to trade stolen data and facilitate large-scale online fraud.

🇬🇧 UK Bans Bitcoin Party Donations
Prime Minister Keir Starmer announced a full ban on Bitcoin donations to UK political parties to stop anonymity and foreign interference risks. 

🇯🇵 Japan FSA Warns KuCoin
Japan’s Financial Services Agency issued a formal warning to KuCoin and three other platforms for operating unregistered and serving Japanese residents.

🇪🇺 MiCA: Only 14 Full Exchanges
Despite 174 MiCA licenses issued across the EU, only 14 entities are authorized to operate actual centralized Bitcoin trading platforms.

🇪🇺 EU Defeats Chat Control Again
The EU Parliament rejected the Chat Control amendment for the third time, blocking mandatory scanning of private messages and end-to-end encryption.

🇧🇹 Bhutan Transfers $36.75M Bitcoin
The Royal Government of Bhutan moved 519.707 BTC worth $36.75 million to an external address as part of ongoing reserve repositioning.

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Quote of the day ⚖️

“Under the Rule of Law… the individual is free to pursue his personal ends and desires, certain that the powers of government will not be used deliberately to frustrate his efforts.” — Friedrich Hayek

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Hello Bitcoiners,

Welcome to the #32 issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

⚖️ David Sacks Pushes Bitcoin Market Structure Bill
Trump’s former AI and Crypto Czar David Sacks said he is still driving Bitcoin market structure legislation across the finish line.

🏦 Fed Confirms No CBDC
The Federal Reserve officially confirmed it has zero plans to issue a central bank digital currency.

🇮🇪 Irish Police Unlock 500 BTC Lost Stash
Irish authorities cracked open a long-inaccessible 2019 Bitcoin wallet and seized 500 BTC worth €30M.

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Opinion and analysis

David Sacks (former President Trump’s AI and Crypto Czar) said he continues to push Bitcoin market structure legislation across the finish line, calling it a vital part of the President’s pro-innovation agenda to secure America as the global leader in sound money and technology.

Sen. Cynthia Lummis (R-WY) urged Bitcoiners not to believe the FUD, explaining that bipartisan changes to Title 3 of the Clarity Act now deliver the strongest legal protections ever for DeFi developers and self-custody, demanding the bill pass immediately.

Financial Stability Board warned in its 2025 report that uneven global rules on digital assets and stablecoins create serious financial stability risks and regulatory loopholes.

Conner Brown (Bitcoin Policy Institute) warned that the new congressional draft on Bitcoin taxation keeps double taxation on mining intact while only granting relief to staking, calling it anti-Bitcoin, non-neutral, and a dangerous pick-winners-and-losers policy that sets America back.

Pierre Rochard (Bitcoin Advocate) argued that Bitcoiners must prioritize full tax exemption above everything else, reminding altcoin promoters that their projects only exist because Bitcoin succeeded first and they should be grateful instead of demanding special favors.

Walker America (host of THE Bitcoin Podcast) warned that governments have become the greatest plunderers of private property, declaring that a nation which fails to enforce the law and protect citizens’ Bitcoin holdings is a failed state.

Sen. Elizabeth Warren (D-MA) targeted Bitmain-Trump family ties in a letter to Commerce Secretary Lutnick, demanding documents on whether the Chinese mining hardware giant’s machines could be used for espionage or power-grid attacks against U.S. Bitcoin miners.

Rep. Maxine Waters (D-CA) pressed the Kansas City Fed for answers after it granted Kraken a master account, questioning the legal basis for giving a major Bitcoin exchange direct access to Federal Reserve payment rails without full transparency.

Federal Reserve confirmed it has no plans to issue a central bank digital currency, instead endorsing stablecoins and tokenized bank deposits as the digital dollar alternative, delivering a major victory for Bitcoin and freedom.

Brazilian lawmakers passed a new law allowing police to use Bitcoin and other seized funds directly to buy equipment and training, expanding their power to freeze assets during investigations in a move that highlights growing state reliance on confiscated Bitcoin.

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Numbers of the week

🏦 14bp – Morgan Stanley enters the Bitcoin ETF race with the lowest fee in the market at just 14 basis points, undercutting every competitor if approved. CoinDesk

🏛️ 130 days – White House Bitcoin & AI Czar David Sacks exits his post after exactly 130 days to take a broader tech advisory role as key legislation stalls. The Block

💥 500 BTC – Irish police successfully unlocked and seized 500 BTC from a “lost” 2019 stash worth €30M, cracking the first wallet of a potential full 6,000 BTC haul. Bitcoin News

🇫🇷 April 15-16 – French President Emmanuel Macron will deliver the first-ever G7 head-of-state address at Paris Blockchain Week, pushing euro stablecoins and digital euro infrastructure. Business Insider

⚠️ Aug 8, 2024 – Swan Bitcoin subpoenas Cantor Fitzgerald and Commerce Secretary Howard Lutnick over alleged conspiracy in a mid-2024 Bitcoin mining joint venture dispute tied to Tether. Bitcoin News

Quote of the day ⚖️

“The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.” — Ludwig von Mises

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Hello Bitcoiners,

Welcome to issue #31 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🇺🇸 Delaware Pushes Stablecoin Licensing
Delaware introduced SB 19, creating a new licensing regime for stablecoin issuers and updating banking law to treat Bitcoin as personal property.

🏛️ SEC Sends Token Classification to White House
The SEC delivered a new interpretation to the White House that excludes Bitcoin, stablecoins, NFTs and many utility tokens from securities classification.

🏦 Clarity Act Yield Language Leaked
Latest Senate draft of the CLARITY Act bans passive yield on stablecoin balances and keeps rewards narrowly limited to prevent competition with bank deposits.

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USA

Delaware Pushes Stablecoin Licensing Framework

Delaware lawmakers introduced Senate Bill 19, the Delaware Payment Stablecoin Act, along with banking modernization bills. SB 19 creates a new state licensing regime for payment stablecoin issuers and related service providers operating with or on behalf of Delaware residents, including capital requirements, redemption rules, AML compliance, and consumer protections. The bills also update Delaware’s outdated banking code to treat Bitcoin as personal property and allow state-chartered banks to hold and manage it in a fiduciary capacity. 

For Bitcoiners, this means Delaware, the corporate capital of America, is racing to become a friendly home for dollar-pegged tokens while officially recognizing Bitcoin as property. In everyday life, it could lead to more reliable on-ramps and custody options domiciled in a pro-business state, but it also signals that even “friendly” regulation brings licensing, capital rules, and compliance costs that favor well-funded players.

The Block

SEC Sends New Token Classification to White House

The SEC transmitted a formal interpretation to the White House that creates a clearer taxonomy for tokens. It excludes NFTs, stablecoins, certain utility tools, and most crypto-related assets from being treated as securities, while distinguishing them from true investment contracts. The document, developed jointly with the CFTC, aims to reduce the gray zone that has fueled years of enforcement actions.

For everyday Bitcoin holders, this is meaningful progress: it strengthens the case that pure Bitcoin is not a security, potentially limiting future SEC attacks on self-custody tools, nodes, and peer-to-peer use. In your daily stack management, it reduces some legal uncertainty when buying, holding, or moving sats, though it still leaves plenty of gray areas for anything that smells like a promise of profit.

CoinTribune

Clarity Act Stablecoin Yield Language Leaked

The latest Senate draft of the CLARITY Act, negotiated by Senators Thom Tillis and Angela Alsobrooks, bans passive yield or rewards simply for holding a dollar-pegged token. Rewards may still be allowed for actual activity (such as payments or usage), but the language is intentionally narrow to prevent anything resembling bank-deposit interest and avoid deposit flight from traditional banks.

For Bitcoiners who value sound money and self-sovereignty, this is a reminder that the CLARITY Act is being shaped more by bank lobbyists than by Bitcoin principles. The longer it drags with these compromises, the more your sats face a regulatory environment tilted toward protecting fiat deposits rather than protecting your right to hold and use hard money freely. Keep your keys cold, minimize reliance on custodial dollar tokens, and stack real Bitcoin, the only money that doesn’t need permission or yield tricks to survive.

CoinDesk

Worldwide

🇧🇷 Brazil Delays Controversial Crypto Tax
Brazil’s finance minister postponed a divisive tax plan that would treat certain crypto transactions as foreign exchange operations subject to rates up to 3.5%, citing risks of congressional conflict ahead of elections.

🇫🇷 Final Suspect Arrested in Ledger Kidnapping
Spanish authorities captured the last fugitive in the 2025 kidnapping of Ledger co-founder David Balland, who was tortured and held for a €10 million Bitcoin ransom. 

🇮🇷 SBF Praises Trump Iran Strikes
Jailed FTX founder Sam Bankman-Fried publicly backed President Trump’s military strikes on Iran from prison, fueling speculation he is seeking a presidential pardon.

🇰🇷 South Korea Seeks Private Custodian for Seized Bitcoin
South Korea’s tax agency is tendering for a private custodian to hold seized Bitcoin after a major seed phrase leak exposed $4.8 million in government-held sats.

🇱🇺 Luxembourg Implements EU Crypto Reporting Rules
Luxembourg passed legislation to enforce the EU’s DAC8 directive, requiring Bitcoin platforms to report user holdings and transactions to tax authorities from January 2026.

🇨🇦 Canada Views Bitcoin as Core Financial System
Canadian officials stated Bitcoin and blockchain are now part of the country’s core financial system, while continuing strict risk-based regulation and stablecoin oversight. 

🇰🇷 South Korea Opposition Wants to Scrap 22% Bitcoin Tax
South Korea’s opposition party proposed abolishing the planned 22% tax on Bitcoin gains set for 2027, with the ruling party agreeing to review the idea.

🇨🇦 Canada Revokes 47 Crypto Licenses
Canada’s FINTRAC revoked 47 crypto-related money services business registrations this year as part of an intensified crackdown on money laundering risks.

🇬🇧 Reform UK Accused of Hiding Crypto Donations
Reform UK is accused of converting Bitcoin donations into cash through a third party to obscure donor identities, prompting calls for an Electoral Commission investigation.

🇸🇬 Singapore Requires Licensing for Overseas Operations
Singapore passed new laws forcing domestically registered Bitcoin firms operating abroad to obtain a local license for AML and counter-terrorism compliance.

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Quote of the day ⚖️

"It is the rule of law alone which hinders the rulers from turning themselves into the worst gangsters." — Ludwig von Mises

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Hello Bitcoiners,

Welcome to the #30 issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🚨 Senators & White House Reach Clarity Act Breakthrough on Yield
Key U.S. Senators announce deal with the White House allowing yield on stablecoins, clearing the final obstacle so the market structure bill can advance.

👀 BPI Declares US & China Quietly Treat Bitcoin as Sovereign Reserve
Bitcoin Policy Institute reveals both Washington and Beijing now view Bitcoin as strategic national asset.

🏛️ North Carolina Launches 10% State Bitcoin Reserve
NC senators introduce Bill 327 permitting the State Treasurer to allocate up to 10% of public funds into Bitcoin as a strategic reserve.

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Opinion and analysis

Conner Brown (Bitcoin Policy Institute) says the Federal Reserve’s Basel III proposal keeps Bitcoin’s punishing 1,250% risk weight unchanged, but he views it as a meaningful step forward that cracks open the door for real reform.

Bitcoin Policy Institute also urges Kentucky to drop the last-minute HB 380 amendment forcing hardware wallet providers to enable credential resets, an impossible demand that threatens Bitcoin self-custody.

Key U.S. Senators believe they’ve reached a breakthrough with the White House on stablecoin yield rules. They think this deal clears the path for the bigger Bitcoin market structure bill to finally advance.

Senator Cynthia Lummis declares President Trump’s promise to make America the Bitcoin capital of the world depends on one thing: passing the Clarity Act. She insists it’s time to get it done once and for all.

Robinhood CEO Vlad Tenev pushes hard for the Clarity Act, arguing stablecoins deserve to offer real yield like savings accounts (~3.5%) instead of zero returns. He believes yield is the missing piece that unlocks mass Bitcoin-adjacent adoption.

Sam Lyman (Former Treasury Senior Advisor) points out Chairman Powell already calls Bitcoin “virtual gold,” yet regulators slap it with 1,250% risk weight while physical gold gets zero. He believes this must change to stop driving Bitcoin business offshore and align with Trump’s Bitcoin superpower vision.

Bitcoin advocate Pierre Rochard calls for much harsher criminal penalties on Bitcoin wrench attacks. He thinks current laws are far too soft on violent coercion that directly threatens private key self-custody.

The Bitcoin Policy Institute advances the view that both Washington and Beijing now quietly treat Bitcoin as a sovereign strategic reserve asset, America openly holds ~328,000 BTC, while China hides its accumulation behind the public ban.

Walker America (host of THE Bitcoin Podcast) asserts that the ability to openly criticize your government is the bare minimum test of freedom.

The CFTC clarifies that Futures Commission Merchants can now accept Bitcoin as margin collateral. Traders view this as another quiet but powerful step embedding Bitcoin deeper into regulated U.S. financial markets.

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Numbers of the week

🇬🇧 $1B – UK authorities dissolve Zedxion crypto exchange accused of laundering roughly $1 billion in funds tied to Iran's IRGC, with IRGC-linked volume hitting 87% (about $619M) in 2024 before dropping to 48% in 2025. Companies House cites misleading incorporation details. Yahoo Finance

🏛️ 10% – North Carolina senators introduce Bill 327, the Bitcoin Reserve and Investment Act, allowing the State Treasurer to allocate up to 10% of public funds into Bitcoin for a strategic state reserve. The bill passed first reading and heads to committee. Bitcoin Magazine

💥 $1M – Morgan Stanley files second amended S-1 for its spot Bitcoin ETF (ticker MSBT), planning a 50,000-share seed basket to raise about $1 million in initial capital ahead of potential NYSE Arca listing. Spot Bitcoin ETFs have already seen over $56B in cumulative inflows. CryptoPotato

👀 €100,000 – Canadian Bitcoin entrepreneur escapes foiled kidnapping in Madrid, attackers targeted his private keys for crypto theft and aimed to seize his €100,000 luxury watch using zip ties, sedatives, and pepper spray. Police intervened after witnesses alerted them. Bitcoin Magazine

⚠️ $2,000 – Kentucky's House Bill 380 (passed House 85-0) regulates Bitcoin ATMs with transaction limits and licensing, but a last-minute amendment in Section 33 threatens hardware wallet self-custody by mandating impossible credential resets. Bitcoin News

Quote of the day ⚖️

“I place economy among the first and most important of republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt.” — Thomas Jefferson

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Hello bitcoiners,

Welcome to issue #29 of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🏦 SEC Peirce Slams Rule Overreach
Commissioner Hester Peirce backs limiting Rule 15c2-11 to equity only, blasting past misapplication that hurt markets with zero fraud benefit.

🔒 BlockFills Files Bankruptcy
Bitcoin liquidity firm BlockFills halted withdrawals, filed Chapter 11, and had 70.5 BTC frozen.

🛡️ Operation Atlantic vs Phishing
US, UK, Canada launch joint op to stop approval-phishing scams that trick users into granting wallet permissions.

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USA

SEC Commissioner Peirce Calls Out Regulatory Overreach

SEC Commissioner Hester Peirce announced support for amendments to Rule 15c2-11 that limit the rule to equity securities only. She criticized the years-long mess after the 2020 changes wrongly tried applying it to fixed-income markets, ignoring that the original rule was designed for OTC equity quotations and caused real harm without stopping fraud. 

For everyday Bitcoiners, this is a clear signal the SEC is finally walking back overreach. Your peer-to-peer sats trades and self-custody quotes stay outside their heavy-handed rules, meaning less legal risk when you buy, sell, or move your stack without extra paperwork or fear of sudden enforcement.

SEC

BlockFills Files Chapter 11 Bankruptcy

BlockFills, an institutional Bitcoin trading and liquidity provider, filed Chapter 11 bankruptcy in Delaware after halting all withdrawals. A New York court froze 70.5 BTC worth $4.8 million following a lawsuit accusing the firm of commingling client sats with company funds, creating a $77 million shortfall used for mining, loans, and expenses.

For Bitcoin holders, this is the same old lesson in hard money: when you leave your sats with a third party, you become an unsecured creditor in bankruptcy and can lose everything. Your keys, your coins, never trust custodians with your stack if you want to sleep at night and keep full control over your hard-earned Bitcoin.

Decrypt

Operation Atlantic Targets Wallet Phishing Scams

The US, UK, and Canada launched Operation Atlantic to disrupt approval-phishing attacks. Scammers send fake pop-ups or alerts that trick you into granting wallet permissions, letting them drain your Bitcoin in irreversible blockchain transfers, building on earlier operations that already froze millions in stolen funds.

For you as a Bitcoiner, the real takeaway is simple: never click or approve suspicious wallet permissions. Always review and revoke them in your wallet settings, use hardware wallets for anything serious, and treat every pop-up as a potential fiat scammer. This one habit keeps your sats safe from the daily phishing that can wipe out a stack in seconds.

CoinDesk

Worldwide

🇬🇭 Ghana Launches Virtual Asset Licensing Sandbox
Ghana’s Securities and Exchange Commission launched a regulatory sandbox under the Virtual Asset Service Providers Act to create a structured licensing pathway for the Bitcoin sector.

🇨🇭 Swissborg Obtains MiCA License in France
Swissborg secured full regulatory approval from France’s AMF under MiCA, allowing the platform to expand regulated Bitcoin services across the entire European Union. 

🇰🇷 South Korea Fines Bithumb $27 Million
South Korea fined Bithumb ₩36.8 billion ($27 million) and imposed a 6-month partial business suspension over serious AML violations.

🇦🇺 Australia Endorses Crypto Regulation Framework
Australian Senate Economics Legislation Committee backed the proposed legislation to modernize the Bitcoin regulatory framework.

🇦🇷 Milei Linked to $5 Million Libra Promotion Deal
Argentine investigators uncovered a document detailing a $5 million payment structure tied to President Javier Milei’s promotion of the Libra token.

🇷🇺 Russia Tests Sovereign Internet Shutdown
Russia shut off mobile internet in Moscow as part of nationwide tests for a censorship system designed to control information during unrest or crises. 

🇨🇳 China Caps Daily Retail Gold Purchases
China’s largest state banks imposed nationwide daily quotas on retail gold purchases amid surging demand, extending delivery times and tightening controls. Bitcoin fixes this…

🇨🇭 Bitcoin Policy Institute Fights Basel Rules
The Bitcoin Policy Institute announced it will submit public comments to the Federal Reserve to oppose the Basel framework’s harsh risk weighting for Bitcoin.

🇰🇷 South Korea Deploys AI for Bitcoin Tax Enforcement
South Korea’s National Tax Service launched a tender for an AI platform to monitor Bitcoin transactions and detect tax evasion ahead of the 2027 tax rollout.

🇬🇧 UK Court Case: Wife Accused of Stealing $172M Bitcoin
A UK High Court allowed a lawsuit to proceed in which a man accuses his estranged wife of using home CCTV to steal his hardware wallet seed phrase and drain 2,323 Bitcoin worth $172 million.

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The first people to open and read this newsletter can claim 21 sats! Learn interesting things and earn sats while you’re at it! 👇

Quote of the day ⚖️

"Under the Rule of Law... the individual is free to pursue his personal ends and desires, certain that the powers of government will not be used deliberately to frustrate his efforts." — Friedrich Hayek

Affiliation

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Hello bitcoiners,

Welcome to the #28 issue of The Bitcoin Act, where every Tuesday and Sunday we track the legal and regulatory moves that actually shape Bitcoin, cutting through noise, narratives, and theater.

Now for today’s top stories:

🚨 Boris Johnson Calls Bitcoin Giant Ponzi Scheme
Former UK PM labels Bitcoin a giant Ponzi scheme in his Daily Mail column.

⚠️ Bitcoin Policy Institute Warns De Minimis Deadline Looms
Bitcoin Policy Institute warns Congress has only months left to pass de minimis tax exemption for small Bitcoin transactions.

⏳ Thune Says Clarity Act Stalled Past April
U.S. Senate Majority Leader John Thune says the Clarity Act will not clear the Senate Banking Committee before April.

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Opinion and analysis

Coinbase CPO Faryar Shirzad rejected claims his firm lobbies against Bitcoin tax relief, as Jack Dorsey demanded clarity from CEO Brian Armstrong on de minimis exemption for small everyday Bitcoin transactions.

Former UK PM Boris Johnson called Bitcoin a giant Ponzi scheme in his Daily Mail column, but Michael Saylor and Eric Trump fired back, defending Bitcoin as pure decentralized sound money with no issuer or guaranteed returns.

Bitcoin Policy Institute warned Congress has only months left to pass de minimis tax exemption for small Bitcoin transactions, after lobbying 19 offices to enable tax-free use as real everyday sound money.

U.S. Senate Majority Leader John Thune said the Clarity Act will not clear the Senate Banking Committee before April, citing ongoing deadlock over stablecoin yield and banking compromise issues.

CFTC Chair Mike Selig announced new rules of the road for prediction markets to crush manipulation, warning exchanges against rigged contracts like injury bets as trading volumes explode.

Federal prosecutors moved to block Sam Bankman-Fried’s retrial request, arguing no new evidence exists and overwhelming proof already convicted him of stealing billions at FTX.

Binance announced a defamation lawsuit against the Wall Street Journal over false claims it buried a probe into $1B Iran-linked Bitcoin flows, insisting the investigation continued and accounts were offboarded.

TD Cowen analysts said Congress is closing in on permanently banning Fed CBDC through a housing bill amendment, shielding Americans from surveillance-state control over their money.

Bitcoin advocate Pierre Rochard argued Bitcoin voters want national prosperity through sound money, while the altcoin industry chases taxpayer yields and casino clarity, exposing two clashing visions.

Bitcoin Policy UK Chief Freddie New warned the UK’s proposed digital ID system risks becoming the biggest state surveillance expansion in modern history, urging lawmakers to ask if it should be built at all to protect Bitcoin privacy.

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Numbers of the week

🏛️ £3.2 billion – Victims of Chinese national Zhimin Qian’s Ponzi scheme ask U.K. High Court to reject government compensation plan for 61,000 Bitcoin seized in 2018 now worth £3.2 billion, as 5,700 victims seek fairer gains from BTC price rise. Bitcoin News

🏛️ Friday the 13th – Federal judge throws out Justice Department subpoenas to Federal Reserve, delivering major win for the Fed and setback to US Attorney Jeanine Pirro’s criminal probe into Chair Jerome Powell. Bitcoin News

🇵🇾 $5,000 – Paraguay’s DNIT requires disclosure of wallet addresses, transaction hashes and counterparty details for all crypto transactions exceeding $5,000 annually including mining and staking. Bitcoin Magazine

🇫🇷 $1 million – Armed attackers force French couple to transfer $1 million in Bitcoin during home invasion. The Block

👀 $328 million – Lawsuit claims JPMorgan Chase accounts served as ‘exclusive vehicle’ in $328 million crypto Ponzi scheme. The Block

Quote of the day ⚖️

"All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts." — Ludwig von Mises

Affiliation

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