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cointelegraph.com Mar 25, 2025 06:05

Kentucky governor signs ‘Bitcoin Rights’ bill into law - Kentucky governor Andy Beshear has signed a measure known as the “Bitcoin Rights” bill, into law, enshrining protections for crypto users, as two other US states’ Bitcoin reserve legislation advanced.Crypto advocacy group the Satoshi Action Fund said in a March 24 statement to X that House Bill 701 protects the “right to self-custody, run a node, and use of digital assets” without “fear of discrimination.” First introduced to the Kentucky House by Rep Adam Bowling on Feb. 19, HB701’s description says it safeguards the right to use digital assets and self-custody wallets and bans local zoning changes that discriminate against crypto mining. Source: Satoshi Action FundAt the same time, the legislation provides guidelines for running a crypto node, excludes crypto mining from money transmitter license requirements, and specifies that mining and staking are not considered offering or selling a security.The bill passed Kentucky’s House of Representatives on Feb. 28, with all 91 representatives voting in favor, and passed the state Senate on March 13, with all 37 senators voting in favor. It was then signed into law by Beshear on March 24. The legislation mirrors similar legislation signed into law by Oklahoma Governor Kevin Stitt in May 2024. Kentucky’s Bitcoin Rights bill enshrines protections for crypto users in the state. Source: Kentucky General AssemblyKentucky has also introduced a bill to establish a Bitcoin reserve, allowing the State Investment Commission to allocate up to 10% of excess state reserves into digital assets, including Bitcoin (BTC); the bill is still under review. Other Bitcoin reserve bills move forwardMeanwhile, Oklahoma’s House Bill 1203 (HB 1203), known as the Strategic Bitcoin Reserve Act, has passed the State House of Representatives 77 to 15, according to the crypto advocacy group, the Oklahoma Bitcoin Association.The bill was introduced to the Oklahoma House of Representatives on Jan. 15 by state Representative Cody Maynard and passed the Government Oversight Committee with a 12–2 vote on Feb. 25. Related: Crypto bills stack up across the US, from Bitcoin reserves to task forcesIt must now pass through the Senate before the Oklahoma governor can veto or sign the bill into law. Oklahoma state Senator Dusty Deevers also filed legislation on Jan. 8 that would allow residents in the state to receive salaries in Bitcoin. Bitcoin legislation tracker group Bitcoin Laws said in a March 24 X post that Oklahoma has now moved into equal second place with Texas in the State Bitcoin reserve race.Oklahoma has now moved into equal second place in the State Bitcoin reserve race. Source: Bitcoin LawsArizona remains in the lead after two strategic digital asset reserve bills cleared Arizona’s House Rules Committee on March 24 and headed to the House floor for a full vote.Bitcoin Laws speculates that because Republicans dominate the Oklahoma Senate and the governor is Republican, the bill “has a good chance to pass into law.” Missouri’s Special Committee on Intergovernmental Affairs is also in the process of evaluating the state’s Bitcoin reserve bill, according to Bitcoin Laws.Magazine: How crypto laws are changing across the world in 2025

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cointelegraph.com Mar 25, 2025 08:27

Why is Dogecoin (DOGE) price up today? - Dogecoin (DOGE) price has jumped by approximately 7% in the last 24 hours to reach $0.181 on March 25. The memecoin was trading for $0.189 at its intraday top, its highest level in almost two weeks.DOGE/USD four-hour price chart. Source: TradingView Key factors driving the DOGE prices higher today include:A DOGE reserve initiative undertaken by the Dogecoin FoundationRisk appetitive recovery on easing trade war fears.A classic flag pattern on the DOGE price chart.Dogecoin Foundation buys 10 million DOGEDOGE’s ongoing price rise coincides with the launch of the Official Dogecoin Reserve, a move designed to stabilize the memecoin and boost institutional confidence.Key points:On March 24, the Dogecoin Foundation revealed the creation of the “Official Dogecoin Reserve” aimed at supporting DOGE’s long-term price stability and credibility.As part of the initiative, the foundation has purchased 10 million DOGE worth around $1.80 million.The Foundation’s strategic DOGE purchase occurs at a time when traders are closely watching signs of institutional entry into the memecoin sector, particularly with the potential launch of spot Dogecoin ETFs in the US.Source: @CryptoWizarddAs of March 25, crypto betting platform Polymarket was showing 72% odds in favor of a Dogecoin ETF launch by the year’s end, up from 27% on Jan. 1.Altcoins are outperforming Bitcoin amid risk rallyDogecoin’s gains today appear alongside a broader altcoin market rally led by easing trade war tensions.Key takeaways:The altcoin market capitalization (TOTAL2) has climbed 1.60% in the past 24 hours to reach 1.08 trillion on March 25.Bitcoin and TOTAL2 market capitalization performance in the last five days. Source: TradingViewMeanwhile, Bitcoin’s market cap has declined 0.61% in the same period.It shows that traders are rotating capital from Bitcoin into altcoins like Dogecoin.The divergence appears amid signs of easing trade war tensions.On March 24, US President Donald Trump signaled twice that trading partners would receive possible exemptions or reductions.Investors embraced higher-risk assets amid improving macro sentiment, favoring riskier altcoins over safer bets like Bitcoin.Memecoins often attract retail-driven hype during altcoin rallies, as shown below via the performance of top-ranking joke cryptocurrencies on a 24-hour adjusted timeframe.Top memecoin performance on March 25, 2025. Source: CoinMarketCapThe combination of macro optimism and DOGE-specific news boosted upside sentiment in the Dogecoin market.Related: Dogecoin millionaires are buying dips as DOGE price eyes 30% rallyRelatively higher speculation is also visible in the Dogecoin Futures market, wherein DOGE open interest (OI) and funding rates are climbing.What to know: As of March 25, DOGE’s OI in the futures market was around $1.80 billion, up from the March 11 low of $1.33 billion, the lowest in four months at the time.Dogecoin OI, funding rates. Source: CoinglassDOGE’s weekly funding rates at the same time have climbed to 0.157% from negative levels on March 21.Rising DOGE open interest and positive funding rates indicate growing demand for leveraged long positions, reflecting bullish sentiment.Dogecoin is bouncing with a bear flag channelDogecoin’s price gains today appear to be a part of its prevailing bear flag pattern.Key takeaways:A bear flag pattern forms when the price consolidates higher inside a rising parallel channel after undergoing strong declines.As a technical rule, the pattern resolves when the price breaks below the lower trendline and falls by as much as the previous downtrend’s height.As of March 25, Dogecoin was consolidating inside the flag channel, with its recent bounce occurring after testing the lowest trendline as support.DOGE/USD daily price chart. Source: TradingViewHowever, its overall bias remains skewed to the downside, providing it breaks below the flag’s lower trendline next.Should it happen, DOGE price can decline toward the technical downside target at around $0.117—down approximately 35% from the current price levels—by April.Conversely, a breakout above the flag’s upper trendline will likely invalidate the bearish setup, sending DOGE’s price toward the 50-day EMA (the red wave near $0.214) instead. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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