By Kapi Rajyaguru
India May Change Crypto Policy Due to International Adoption.
The Indian government, which has historically been opposed to crypto, is reviewing its regulatory policy in response to adoption by other nation-states.
According to Reuters, India’s economic affairs secretary, Ajay Seth, said that digital assets “Don’t believe in borders”—signaling that India does not want to get left behind in the digital asset revolution.
The government’s changing stance reflects the high-level game theory posited by pro-crypto analysts and Bitcoin maximalists that nation-state adoption by one or two countries would trigger a race among global powers to accumulate digital currencies.
El Salvador Purchases 2 Additional BTC In A Single Day.
El Salvador purchased two additional Bitcoins on Feb. 1. The country typically acquires one Bitcoin per day as part of its Bitcoin strategic reserve initiative but has been purchasing BTC at an accelerated pace.
According to the government’s Bitcoin tracker, El Salvador currently has a total of 6,055 BTC, valued at over $612 million, and purchased over 50 BTC in the last 30 days alone.
The country recently rescinded its legal tender law requiring businesses to accept BTC as payment to secure a loan from the International Monetary Fund (IMF).
Utah Could Be First US State To Pass Bitcoin Reserve Bill: Satoshi Action Fund.
Utah could be the first US state to establish a Bitcoin reserve due to a shorter legislative window calendar and “political momentum.” There’s a “very good shot” that Utah will be the first because they only have 45 days to decide, Satoshi Action Fund CEO Dennis Porter said in a recent interview with US Senator Cynthia Lummis, which he shared on X on Feb. 2.
On Jan. 28, one of Utah’s house committees voted 8-1 in favor of a bill that would allow the state to invest a portion of public funds in Bitcoin, other cryptocurrencies with a market cap above $500 billion, and approved stablecoins.
Thailand SEC Plans To Launch Tokenized Securities Trading System.
The Securities and Exchange Commission of Thailand is planning to launch a distributed ledger technology-based trading platform for securities firms to trade digital tokens.
The deputy secretary-general of the Thai SEC said that token investments were gaining traction, and the regulator will allow securities companies to trade digital tokens to capitalize on their large investor bases, as the Bangkok Post reported on Feb. 3.
The planned system features full digitalization of bond trading for both primary and secondary markets, coverage of settlement, trading, investor registration, and payment processes, and multiple-chain support with interoperability standards, though it did not specify which chains.
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