dakota

According to The Block, a federal grand jury in the United States has indicted South Dakota cryptocurrency investor Benjamin Paul Wiener on 29 counts, including telecommunications fraud, money laundering, bank fraud, and aggravated identity theft.

Cryptocurrency payment company Alchemy Pay has officially announced that it has obtained a Money Transmission License (MTL) in South Dakota, USA, marking another progress in its compliance process. So far, the company holds relevant business licenses in 13 states across the United States and is currently advancing more MTL applications in multiple U.S. jurisdictions. Over the past year, Alchemy Pay has successively obtained key regulatory licenses in Australia, South Korea, Switzerland, and Hong Kong, accelerating the formation of a global compliant payment network.

According to GlobeNewswire, Applied Digital (Nasdaq: APLD) announced that its subsidiary APLD Compute has completed the pricing of $2.35 billion in senior secured notes with a coupon of 9.25% due in 2030, priced at 97%, with expected settlement around November 20.The proceeds will be used to construct the 100 MW and 150 MW data centers ELN-02 and ELN-03 located at the Ellendale site in North Dakota, repay existing loans, replenish debt service reserves, and pay related expenses. The notes are unconditionally guaranteed by multiple subsidiaries and secured by relevant assets and equity as priority collateral. The company stated that it will provide completion guarantees for the aforementioned data centers.

ChainCatcher news, according to Bloomberg, North Dakota plans to follow Wyoming and become the second state in the U.S. to issue a stablecoin. This stablecoin will initially be used for interbank transactions, while the U.S. financial system is also experimenting more broadly with the application of digital tokens. The token is named "Roughrider Coin," after the American volunteer cavalry led by Theodore Roosevelt during the Spanish-American War.The coin is expected to be launched next year by the Bank of North Dakota, the only state-owned bank in the U.S., and will be issued in partnership with Fiserv Inc. The core business of the Bank of North Dakota is to collaborate with over 80 community banks and credit unions across the state to promote agricultural lending.

ChainCatcher news, according to Fortune magazine, stablecoin bank Dakota, founded by former Coinbase executive Ryan Bozarth, has completed a $12.5 million Series A funding round, led by CoinFund, with participation from 6th Man Ventures, Digital Currency Group, and Kraken's Triton Ventures.Dakota facilitates fund transfers through stablecoins, providing banking-like account services for businesses and individuals. Its business model combines traditional banking functions with blockchain technology, primarily serving overseas corporate clients in non-crypto sectors. The platform has processed $1.6 billion in transaction volume and is expected to reach $4 billion by the end of 2025. Although it does not hold a banking license, the company is registered as a money services business in the United States and Europe.

ChainCatcher news, according to Cointelegraph, the North Dakota Senate passed House Bill 1447 with a vote of 45 in favor and 1 against. This bill regulates cryptocurrency ATMs and reinstates the provision that sets a daily transaction limit of $2,000 per user, which had previously been removed by the state House.The bill requires cryptocurrency ATM and self-service terminal operators to obtain a money transmission license in the state, limits users' daily withdrawal amounts to $2,000 from their ATM network, and issues fraud warning notifications. The bill also mandates operators to use blockchain analysis technology to monitor suspicious activities and report them to authorities, while providing quarterly reports that include terminal locations, names, and transaction data.The bill now needs to return to the House for a vote on the amendments, after which North Dakota Governor Kelly Armstrong will decide whether to sign it into law. Data from the Federal Trade Commission shows that fraud losses from Bitcoin ATMs have increased nearly tenfold from 2020 to 2023, exceeding $65 million in the first half of 2024.

ChainCatcher news, the South Dakota House Commerce and Energy Committee has decided to postpone the HB 1202 bill to the '41st day' of the current legislative session. However, the state legislative session lasts a maximum of 40 days, effectively vetoing the bill, which means the state will not be including Bitcoin as an official investment option for the time being.

ChainCatcher news, according to Bitcoin Magazine, the Bitcoin Reserve Bill in South Dakota will have a hearing today in the state’s Commerce and Energy Committee.

ChainCatcher news, Satoshi Action Fund (SAF) co-founder and CEO Dennis Porter disclosed in a post on the x platform that North Dakota Representative Toman has introduced a bill to protect the rights of Bitcoin users. The bill will safeguard four fundamental rights of Bitcoin users, including the right to mine, the right to self-custody, the right to peer-to-peer transactions, and the right to run a node.

ChainCatcher news, according to Cointelegraph, the North Dakota state legislature has introduced Bill 1447, which aims to implement strict regulations on cryptocurrency ATMs. Lisa Kruse, the commissioner of the state's Department of Financial Institutions, revealed at a hearing on January 22 that in 2023, a total of 103 residents in the state reported cryptocurrency fraud cases to the FBI, with total losses reaching 6.5 million dollars. According to the bill, the daily withdrawal limit will be capped at 1,000 dollars, with a transaction fee limit of 5 dollars or 3% (whichever is higher), and ATMs will be required to display fraud warnings.

ChainCatcher news, according to Decrypt, the North Dakota legislature has proposed a resolution aimed at "investing a portion of state funds in digital assets and precious metals." Resolution 3001 aims to mitigate the impact of inflation on the state's finances by diversifying the assets in which the state invests.The resolution states: "In light of the changing economic conditions and emerging investment opportunities, there is a need for prudent investment of state financial resources." Notably, while the resolution encourages investment in digital assets, it does not specifically mention Bitcoin. North Dakota Representatives Nathan Toman, Matthew Heilman, Jared Hendrix, Daniel Johnston, SuAnn Olson, and Todd Porter, as well as Senators Jeff Barta and Bob Paulson, proposed the resolution.ChainCatcher previously reported that Dennis Porter, co-founder and CEO of the Satoshi Action Fund (SAF), posted on the X platform stating that New Hampshire State Representative Keith Ammon has submitted a bill proposing the establishment of a "strategic reserve," allowing the state treasury to invest in precious metals (such as gold, silver, platinum) as well as digital assets (including Bitcoin).

ChainCatcher news, according to foreign media reports, Trump has chosen North Dakota Governor Doug Burgum to lead the Department of the Interior, a move that puts one of Trump's former main competitors in charge of the department.Governor Burgum of North Dakota became a self-made billionaire after selling his software company, which is a factor that helped him build a relationship with Trump, who has viewed Burgum as a potential opponent in the 2024 campaign.If approved by the Senate, Burgum will manage over 500 million acres of federal land, as well as the fossil fuels and minerals beneath it, making him a key component of Trump's promise to increase oil and gas production.

ChainCatcher news, according to official sources, Bitcoin mining company Cathedra Bitcoin Inc. has announced that it has powered up the last 15 megawatts of capacity for its Bitcoin mining data center in North Dakota, marking the completion of the entire 60 megawatt facility, with Cathedra being a 25% partner in the facility.With the completion of the North Dakota facility, Cathedra now owns and manages Bitcoin mining data center capacities of 45 and 95 megawatts across six locations in the United States. As of the time of publication, the company holds approximately 44 BTC, valued at around 3 million dollars.

ChainCatcher News, South Dakota Governor Kristi Noem vetoed House Bill 1193, which specifically excluded cryptocurrencies like Bitcoin and other digital assets from the definition of "currency."Kristi Noem stated, "If cryptocurrencies are explicitly excluded from being considered currency, it will become more difficult to use them. By unnecessarily restricting this freedom, HB 1193 will put South Dakota citizens at a disadvantage in business." (Source link)