It has reached, once again, to frank insanity. A judge in the United States District Court for the Southern District of New York ruled that emoji such as a rocket, a stock chart and moneybags stand for “financial return on investment,” according to a recent lawsuit. In a tweet, former U.S. Securities and Exchange Commission (SEC) chapter head Lisa Braganza warned users of the potential legal implications of using emoji, which could indicate future benefits. She tweeted, “A federal court judge has ruled that these emojis objectively mean one thing: ‘financial return on investment’. Users of these emojis are hereby warned of the legal implications of their use,” former SEC Chapter Chief Lisa Braganza tweeted on Feb. 23, 2023.
Meanwhile, one of the US states – Montana – is approaching the adoption of a law on the right to mine. The Cryptocurrency Mining Right Bill, which would ban discrimination against crypto miners, is one step closer to being implemented after passing by the Montana Senate. However, it will still have to be tested in the House of States before it is signed by the governor (which is problematic in the current situation, although all this will only give additional PR for the state authorities and “representatives of the people”). Proposed laws would enshrine “the right to mine digital assets” and ban “discriminatory” (whatever that means) electricity tariffs levied on crypto miners, protect mining that takes place “at home” and deprive local governments of the right to enforce the laws on zoning to stop crypto-mining operations. It also bans additional taxes on the use of cryptocurrencies as a payment method and will treat “digital assets” including cryptocurrencies and non-fungible tokens as “personal property” along with other financial products such as stocks and bonds. The bill was passed in the State Senate on February 23 by a vote of 37 to 13 and will go to the House of Representatives for approval. If it passes there too, the final step would be for Gov. Greg Gianforte to sign it, who could also veto the bill.
The bill states that Montana wants to “protect the right to mine” cryptocurrencies and “create legal certainty” for miners as mining “provides positive economic value” and could potentially “stabilize the network and provide revenue for infrastructure upgrades.” The bill was written with the help of the Satoshi Action Fund, a pro-Bitcoin lobbying group. Dennis Porter, CEO of the advocacy group, said Montana leaders have used zoning laws to try to force out miners and have considered imposing higher electricity rates for mining businesses.
In April 2019, Montana’s Missoula County passed regulations requiring miners to only operate in light and heavy industrial areas, and miners to use exclusively renewable energy. If passed, the law would override the county’s zoning ordinance. In early February, the Mississippi State Senate passed a similar bill aimed at protecting crypto miners from discrimination, and it is now before the House of Representatives. Also in mid-January, the Missouri Digital Asset Mining Protection Act was introduced into the state legislature to protect the rights of cryptocurrency miners.
Close by, in Canada, crypto companies and those planning to operate in the country have 30 days to comply with the updated crypto registration rules that were released on Wednesday or risk losing their Canadian users. The CSA said crypto companies planning to operate in Canada must pre-register within 30 days to begin full registration and comply with the guidelines. During the pre-registration process, cryptoasset trading platforms will be required to comply with custody rules, which include segregation of cryptoassets destined for local clients, limiting margin and leveraged trading, and ceasing stablecoin sales without CSA approval.
The crackdown on stablecoins by Canadian regulators began last year when the CSA said such digital assets could be “securities and/or derivatives” and required exchanges to obtain a license to sell them. According to the legal notice, the pre-registration obligation will include additional obligations of cryptoasset trading platforms to hold assets, including cash, securities and crypto assets that are not securities, of a Canadian client.
“The recent bankruptcies associated with multiple crypto asset trading platforms highlight the enormous risks associated with trading crypto assets, especially when they are conducted on unregistered platforms based outside of Canada,” said Stan Magidson, CSA Chairman and CEO of the Alberta Securities Commission. . Companies must post their revised pre-registration agreement, which may be posted on the CSA website. Companies that cannot or will not comply are expected to “offload” Canadian users and block the jurisdiction.
In light of the above, investors are advised to take some time to think before making any investment. One of the legitimate forms of investment is, for example, the ASTL investment project, which allows investors to have the opportunity to directly invest fiat and cryptocurrency assets in a stable passive income that obviously exceeds inflationary expectations and is not subject to any sanctions, blocking and confiscation. The ASTL project is a simple and elegant solution for potential investors – an investment in the development of the real sector of a diversified portfolio of cryptocurrencies, with a fairly high ROI (up to 12% annually) with payments in stablecoin (USDT). Details can be found at https://astl.io.
