"Bitcoin Self-Custody Rights Affirmed: California Bill AB-1052 Proposes Key Protections"

A new bill introduced in the California Assembly aims to provide crucial protections for Bitcoin and digital asset users, emphasizing the importance of self-custody rights.

California’s AB-1052 Proposes Key Protections for Bitcoin and Digital Asset Users

California’s Assembly has introduced AB-1052, initially known as the Money Transmission Act, aiming to regulate cryptocurrency. Led by California Democrat Avelino Valencia, the bill focuses on protecting cryptocurrency users, especially those who want to maintain control over their digital assets. Key provisions of AB-1052 affirm the right to self-custody of Bitcoin and other digital assets, safeguarding individuals’ ability to hold and manage their digital property without governmental interference. The bill also prohibits public agencies from imposing taxes or restrictions based solely on the use of these assets.

Strategy Purchases Additional 22,048 Bitcoin Worth $1.92 Billion

Strategy, a globally known Bitcoin Treasury Company, has purchased an additional 22,048 Bitcoin (BTC) units worth $1.92 billion, raising its total Bitcoin holdings. The U.S. Securities and Exchange Commission (SEC) received notice from the company through an 8-K filing which showed an average price of $86,969 per bitcoin for their asset purchases made from March 24 to March 30. Following this latest acquisition, Strategy currently owns 528,185 Bitcoin with a market value exceeding $43 billion. The firm purchased these bitcoins at an average price of $67,458 per unit.

Stablecoins Surge Indicates Potential Buying Opportunity for Bitcoin

The stablecoin ratio channel is signaling a potential market shift, hinting at a buying opportunity for Bitcoin [BTC] and altcoins. An increase in stablecoin market caps suggests liquidity buildup and often marks an accumulation phase, as investors move funds from risk assets to stablecoins, waiting for optimal entry points. Historically, when this ratio reaches critical levels, it has preceded significant price movements, suggesting that the market may be preparing for a new trend. Source: Alphractal

Trump Family to Launch New Bitcoin Mining Venture with Hut 8

Hut 8 Corp. announced the launch of American Bitcoin Corp., an industrial-scale Bitcoin mining venture created in partnership with Eric Trump and Donald Trump Jr. in the United States. The venture experiments with a split model that isolates mining as a standalone unit. A high-profile backing blends public recognition with technical oversight. The strategy offers a fresh framework for evaluating crypto asset performance. American Bitcoin, a majority-owned subsidiary of Hut 8, aims to become the world’s largest, most efficient pure-play miner while building a robust strategic Bitcoin reserve.

Russia’s Irkutsk Could Impose Year-round Crypto Mining Ban from April 1

Russia’s Irkutsk, the nation’s biggest Bitcoin mining hotspot, could impose a year-round ban on all crypto mining activities effective April 1. According to a report from the Russian newspaper Kommersant, the ban would apply only in the southern part of the Siberian oblast of Irkutsk but could run until mid-2031. Miners in southern Irkutsk have already been ordered to shut down their rigs in the winter months until 2031, with many miners staying in the area understanding that they can operate in warmer months. However, top officials warned earlier this year that the existing ban was not doing enough to ease pressure on local power grids.