ChainCatcher News, Ohio State Representative Derek Merrin has submitted Bill No. 703 (Ohio Bitcoin Reserve Act), proposing the establishment of a Bitcoin reserve fund in the state treasury and authorizing the state treasurer to invest in Bitcoin flexibly, but without a mandate.Merrin pointed out that the U.S. dollar is rapidly depreciating, and Bitcoin can serve as a tool to protect tax funds and enhance state finances. This legislation provides a framework for state governments to leverage Bitcoin technology to address economic challenges and promote innovation. Similar bills have been introduced in Texas and Pennsylvania, aiming to establish state-level Bitcoin reserves.

ChainCatcher news, according to FoxBusiness reporter Eleanor Terrett, crypto-friendly Republican businessman Bernie Moreno will defeat incumbent Democratic Senator Sherrod Brown in the Ohio Senate race, flipping the seat to Republican.The pro-cryptocurrency political action committee Defend American Jobs spent $40.1 million to support Bernie Moreno, and additionally, Moreno's campaign team received at least $54,600 in fundraising directly from the crypto industry.

ChainCatcher news, according to the Associated Press, Vice President Harris is expected to win New York State, while Trump is expected to win Ohio.

ChainCatcher news, Fox Business reporter Eleanor Terrett posted on X that the super PAC supporting cryptocurrency has become the organization that has invested the most funds in the Ohio Senate campaign.The latest advertising spending has made "Defend American Jobs," funded by major crypto companies like Coinbase and Ripple, the largest spender in the state's Senate campaign to date.

ChainCatcher News: The newly established electronic fraud investigation unit of the Ohio Bureau of Criminal Investigation has recovered $130,000 from a cryptocurrency scam, marking its first victory. The unit was created to address the increasingly complex cyber financial crimes, particularly those involving cryptocurrency.

ChainCatcher news, according to Bitcoin.com, the U.S. Attorney's Office for the Northern District of Ohio announced on Friday that the U.S. has filed a civil forfeiture lawsuit seeking to seize $200,000 worth of USDT.This action stems from an incident that occurred in February 2024, when $340,000 worth of Bitcoin was fraudulently transferred from a victim's wallet in Ohio.

ChainCatcher news, according to Bitcoin.com, Ohio Senator Niraj Antani has proposed a bill to legalize cryptocurrency payments for state and local taxes.It is reported that the bill emphasizes the importance of cryptocurrency in the current economy, requiring Ohio to accept digital currencies like Bitcoin and allowing the state pension system to invest in these currencies. Antani highlighted Ohio's historical role in the adoption of cryptocurrency.

ChainCatcher news, according to Bitcoin Magazine, Ohio Senator Niraj Antani has introduced a bill proposing that Ohio accept Bitcoin for tax payments.

ChainCatcher news, the political action committee (PAC) for the cryptocurrency industry is making a significant investment in the Ohio Senate race, supporting Republican candidate Bernie Moreno against incumbent Senator Sherrod Brown.As of September 27, 2024, the PAC, backed by companies like Coinbase and Ripple Labs, has invested $40 million to support Moreno. This massive expenditure has allowed Moreno to quickly catch up to Brown in the polls, with some polls even showing Moreno in the lead.Brown, as the chairman of the Senate Banking Committee, has been skeptical of cryptocurrency, and several crypto-related bills have been stalled in the committee. If Moreno wins, the Republicans could gain a majority in the Senate, which would have a significant impact on the legislative process for the cryptocurrency industry. However, some industry insiders are concerned about Fairshake PAC's attempt to unseat Brown, believing it could undermine the industry's legislative push.

ChainCatcher news, according to News.bitcoin, the Ohio Department of Financial Institutions (DFI) recently announced that it has ordered the cryptocurrency exchange Coinzoom Inc. to immediately cease operations in the state. Coinzoom holds a money transmission license in Ohio and offers a variety of financial products, supporting over 30 cryptocurrencies.The directive took effect on August 1, prohibiting Coinzoom from accepting new business or assets from Ohio residents. However, existing customers in Ohio can still withdraw fiat or cryptocurrency assets. This suspension follows multi-state bank examinations, during which Ohio regulators were unable to verify Coinzoom's financial status due to incomplete or inaccurate financial records. The suspension will remain in effect until the DFI or a court modifies or lifts the order, and Coinzoom has requested an administrative hearing.

ChainCatcher news, Ohio has officially proposed a bill to protect fundamental Bitcoin rights. This includes: the right to buy and sell Bitcoin, the right to mine Bitcoin, the right to run a full node, and the right to self-custody digital assets. Ohio is the 16th state to propose a bill this year to protect the right to access Bitcoin.

ChainCatcher news, according to CoinDesk, blockchain entrepreneur and cryptocurrency enthusiast Bernie Moreno has won the Republican Senate primary in Ohio, becoming the Republican candidate for U.S. Senate from Ohio. Bernie Moreno will compete against cryptocurrency industry critic and Senate Banking Committee Chairman Sherrod Brown.Moreno's victory in the Republican primary is seen as a significant advancement for the cryptocurrency industry and may influence the future direction of digital asset regulation in the United States.

ChainCatcher news, the Ohio Department of Securities has agreed to a settlement with the lending platform Nexo. Nexo has agreed to pay $22.5 million to resolve allegations from Ohio and other states in the U.S., the District of Columbia, Puerto Rico, and the U.S. Virgin Islands for failing to comply with state securities registration requirements (paying $424,528.30 to each jurisdiction).It is reported that Nexo had previously agreed to pay a $22.5 million fine on January 19 and ceased issuing and selling unregistered lending products Earn to U.S. investors on April 1, concluding the SEC's allegations against it. (Source link)

ChainCatcher news, the New York State Common Retirement Fund and the State Teachers Retirement System of Ohio disclosed investments in FTX through the private equity and venture capital firm Thoma Bravo. A spokesperson for the New York State Common Retirement Fund confirmed that the fund did incur losses, but the amount is "very small." The State Teachers Retirement System of Ohio has not yet responded to requests for comments on the specific amount of losses, and Thoma Bravo also declined to comment on the matter.Previously, the Missouri State Employees Retirement System announced a write-down of $1.2 million on its FTX investment, which was made through a BlackRock mutual fund of up to $125 million. (buyoutsinsider)

ChainCatcher news, according to an analysis by Data Finnovation of a public document, Binance was fined $241,000 for unlicensed illegal trading of $138 million in Ohio, and received a license from Ohio on the same day.The document shows that Binance applied for a money transmission license in the state in September 2020, and Ohio stated that the license would be issued immediately upon payment of the aforementioned fine. (source link)