North Dakota Senate passes crypto ATM bill limiting daily transactions to $2K
The North Dakota Senate has passed a bill that regulates crypto ATMs while re-adding a provision capping daily transactions at $2,000 per user that was originally dropped by the state’s House.The state’s Senate passed House Bill 1447 in a 45-to-1 vote on March 18. The bill was introduced to the state’s legislative assembly on Jan. 15 and aims to protect residents from scams by introducing a slate of new guidelines for crypto ATMs and their operators.The latest version of the bill passed by the Senate requires crypto ATM and kiosk operators to be licensed in the state as money transmitters, limits customer withdrawals across their network of ATMs to $2,000 per day, and issues fraud warning notices.Initially, the bill limited crypto ATM customer transactions to $1,000 a day, but a House committee last month loosened the limits, with a $2,000 a day limit for the first five transactions within 30 days.Now, the Senate has capped the transaction limits at $2,000. The bill will need to be sent back to the House to vote on the changes before North Dakota Governor Kelly Armstrong can either veto or sign the bill into law.The bill would also require operators to use blockchain analytics to monitor for suspicious activity, such as fraud, and report it to the authorities, and to provide quarterly reports on kiosk locations, names and transaction data.The latest version of House Bill 1447 requires local crypto ATM operators to be licensed in the state as money transmitters, among other requirements. Source: North Dakota Legislative AssemblyDuring a North Dakota House Industry, Business and Labor committee hearing on Jan. 22, the bill’s primary sponsor, House Representative Steve Swiontek, said that crypto ATMs currently lack protection measures, which has “allowed criminals to exploit them for theft.”Nebraska Governor Jim Pillen had signed similar legislation into law on March 13, the Controllable Electronic Record Fraud Prevention Act, which is designed to help combat fraud.Meanwhile, US Senator Dick Durbin of Illinois, who formerly chaired the Senate Judiciary Committee, proposed similar federal legislation on Feb. 25.Durbin cited a story from a constituent who fell prey to a scammer claiming the authorities had issued a warrant for their arrest but could pay a fine through a $15,000 deposit at a crypto ATM to avoid jail as motivation for introducing the new law. Related: ‘Victim-blaming’ Americans can deter crypto scams reporting — RegulatorLast September, the Federal Trade Commission reported fraud losses at Bitcoin (BTC) ATMs had increased nearly tenfold from 2020 to 2023 and topped $65 million in the first half of 2024, with consumers aged 60 and older three times more likely to fall victim.Coin ATM Radar data shows that the US still has the most Bitcoin ATMs, with 29,822 machines representing 78% of the global market.The United States is the world leader in the number of Bitcoin and crypto ATMs. Source: Coin ATM RadarCanada ranks second, at 9.2% of the market and 3,486 crypto ATMs, while Australia is third with 1,613 crypto ATMs, representing 4.3% of the market. Magazine: How crypto laws are changing across the world in 2025
EOS Network rebrands to Vaulta in shift to Web3 banking
The EOS Network, a blockchain that launched in 2018 amid the initial coin offering boom, has rebranded to Vaulta and will pivot to focusing on Web3 banking. The switch to Vaulta is tentatively scheduled for the end of May and will include a new token and the establishment of an advisory group known as the Vaulta Banking Advisory Council to help with the firm’s new direction, the company said in a March 18 statement.In a separate statement, the firm said the network’s EOS (EOS) token will transition to the Vaulta Token, which will be available on the nearly 140 exchanges where EOS trades and through a swap portal available in May. It added that the token’s ticker and technical details will be revealed at a later date. Source: EOS NetworkVaulta will also inherit EOS Network’s underlying infrastructure, including integration with the Bitcoin digital banking solution, exSat, which complements Vaulta’s BankingOS system, offering a suite of financial services through partnerships with Ceffu, Spirit Blockchain and Blockchain Insurance Inc. EOS Network’s rebranding to Vaulta marks a significant course correction for the blockchain, which launched to great fanfare in June 2018 off the back of a year-long and largest-ever $4.1 billion ICO run by the company behind the network, Block.one.Following its launch, EOS was a top 10 project by market cap for several years. But its value has been in steady decline and is now just inside the top 100, sitting at 95, according to CoinGecko.There’s a range of opinions about where EOS went wrong. Some who volunteered to assist in developing the network say there was a lack of support and direction from Block.one. Related: Tracing the evolution of Blockchain, with Eos Network Foundation execBlock.one made a $24 million settlement with the Securities and Exchange Commission in September 2019, and some commentators argued that the firm’s focus then shifted from EOS’ base tech to other projects — like the social app-turned-NFT marketplace Voice and the crypto exchange Bullish.Goodblock CEO Douglas Horn believes EOS investors were misled from the start, telling Cointelegraph Magazine in 2023 that “Block.one did a deceitful ICO, whether that was planned from the beginning or not.”Magazine: Whatever happened to EOS? Community shoots for unlikely comeback
Minnesota senator proposes Bitcoin Act after going from skeptic to believer
Minnesota state Senator Jeremy Miller has introduced the Minnesota Bitcoin Act, which he drafted after completely changing his stance on Bitcoin.“As I do more research on cryptocurrency and hear from more and more constituents, I’ve gone from being highly skeptical to learning more about it, to believing in Bitcoin and other cryptocurrencies,” Miller said in a March 18 statement.Miller said the bill aims to “promote prosperity” for Minnesotans by allowing the Minnesota State Board of Investment to invest state assets in Bitcoin (BTC) and other cryptocurrencies, just as it invests in traditional assets.Several other US states have introduced similar Bitcoin-buying bills, with 23 states having introduced legislation to create a Bitcoin reserve, according to Bitcoin Laws.A total of 39 different bills related to state investments in Bitcoin have been introduced across 23 US states. Source: Bitcoin LawsUnder Miller’s bill, Minnesota state employees would be able to add Bitcoin and other cryptocurrencies to their retirement accounts.It would also give residents the option to pay state taxes and fees with Bitcoin. Colorado and Utah already accept crypto for tax payments, while Louisiana allows it for state services.Investment gains from Bitcoin and other cryptocurrencies would also be exempt from state income taxes. In the US, up to $10,000 paid to the state can be deducted from federal taxes under the state and local tax deduction, but any amount beyond that is subject to both state and federal tax obligations.Related: SEC could axe proposed Biden-era crypto custody rule, says acting chiefThe increasing number of US states proposing Bitcoin reserve bills follows Senator Cynthia Lummis’ July Strategic Bitcoin Reserve Act, which directs the federal government to buy 200,000 Bitcoin annually over five years, totaling 1 million Bitcoin.However, on March 12, Lummis proposed a newly reintroduced BITCOIN Act, allowing the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve.Bitcoin has shown significant gains compared to traditional assets in recent years. From August 2011 to January 2025, Bitcoin posted a compound annual growth rate of 102.36%, compared to the S&P 500’s 14.83%, according to Curvo data.Bitcoin’s compound annual growth rate is significantly higher than the S&P 500s. Source: CurvoMagazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Four.Meme resumes operations after $120K sandwich attack
Four.Meme, a BNB Chain-based memecoin launch platform, recently faced a sandwich attack that resulted in a loss of around $120,000. However, the platform has now resumed its operations after addressing the security issue and compensating affected users.
The attack, which was discovered on March 18, was a market manipulation technique known as a sandwich attack. The attacker pre-calculated the address for creating the liquidity pool’s trading pair and utilized one of the platform’s functions to purchase tokens, bypassing Four.Meme’s token transfer restrictions. They then waited for Four.Meme to add liquidity to the transaction and siphoned off the funds.
Web3 security firm ExVul and blockchain security firm CertiK both confirmed that the attacker successfully manipulated the price at launch and made a profit of 21.1 BNB, worth approximately $120,000. The attacker then transferred the funds to the decentralized crypto exchange FixedFloat.
This is not the first time Four.Meme has been targeted by an attack. In February, the platform lost around $183,000 in a similar exploit. Unfortunately, this is just one of many attacks and scams that have plagued the crypto industry in recent months. In February alone, there were $1.53 billion in losses due to scams, exploits, and hacks.
According to blockchain analytics firm Chainalysis, the past year has seen $51 billion in illicit transaction volume, with crypto crime becoming more professionalized and dominated by AI-driven scams, stablecoin laundering, and efficient cyber syndicates.
Despite these challenges, the crypto industry continues to grow and evolve. DeFi, in particular, has seen a resurgence in popularity, with experts predicting that it will continue to rise in the coming years. As the industry matures, it is crucial for platforms and users to prioritize security and stay vigilant against potential threats.
Hacker breaks into AI crypto bot aixbt’s dashboard to snatch 55 ETH
An attacker has breached the dashboard of an artificial intelligence crypto bot and made two prompts for it to transfer 55.5 Ether, worth $106,200, from its wallet, sparking concerns about the security of AI agents in crypto.In a March 18 X post, “rxbt” — the maintainer of the bot called “aixbt,” which commentates on the market — said its core systems weren’t impacted, and the breach wasn’t the result of manipulating the AI.“We’ve migrated servers, swapped keys, paused dashboard access for security upgrades, and reported hacker addresses to exchanges,” rxbt added.Source: rxbtCoinGecko data shows that the aixbt (AIXBT) token on the Ethereum layer 2 Base has fallen 15.5% to 9 cents since the hack, which happened on March 18 at 1:58 am UTC.Observers initially thought someone had manipulated the bot, after the AI agent platform Simulacrum AI posted to X that it sent a 55.5 Ether (ETH) tip to the attacker, X user “0xhungusman,” whose account has since been suspended.Source: Simulacrum AIAI-powered bots that commentate on and trade in the crypto market, such as aixbt, ai16z and Truth Terminal, continue to be experimented with in crypto as traders look to leverage AI in their trading strategies.Spencer Farrar, a partner at the AI and crypto-focused venture capital firm Theory Ventures, told Cointelegraph that these AI applications are “a bit frothy” at the moment, but more utility could come down the line.Farrar expects to see further experimentation with crypto AI tokens, as they allow retail investors to speculate on smaller market cap ideas that largely aren’t as accessible in the stock market.“Things tend to start off like this in the open-source world; you see a ton of tinkering, and then perhaps we’ll see something really big come of it.”Related: Not every AI agent needs its own cryptocurrency: CZDecentralized AI researcher “S4mmy” said on X that AI agents managing crypto funds must be battle-tested further to ensure threat actors can’t easily compromise AI bots and steal funds.“Excited to see how these solutions evolve over the next 12 months as large DeFi protocols integrate existing solutions or develop their own,” they added.Source: rxbtThe market capitalization of tokens tied to AI agents currently sits at $4.2 billion, CoinGecko data shows.Magazine: Train AI agents to make better predictions… for token rewards
Crypto companies seeking bank charters under Trump admin — Report
Cryptocurrency and fintech companies are increasingly seeking bank charters in an attempt to grow their businesses under the Trump administration, according to a report from Reuters, which talked to more than half a dozen industry executives.The moves come as the administration is seen as more industry-friendly and there are opportunities to gain the licenses that regulators under previous administrations may have been slow to approve.While discussions about pursuing bank charters are on the rise, it is unknown how many companies will ultimately follow through. It can cost tens of millions of dollars to start up a bank, but there are benefits such as increased credibility with the general public.According to Reuters, 144 bank charter applications were approved every year between 2000 and 2007, but that number shrank to only five approved per year between 2010 and 2023. 2008 marked the year of the great financial crisis and subsequently increased scrutiny on banks.The Trump administration has signaled openness to innovation in the finance sector, especially in the cryptocurrency industry. Since his January inauguration, President Trump has created a crypto working group, signed an executive order to create a national strategic Bitcoin (BTC) reserve, and hosted the first White House crypto summit.Related: Wyoming defends crypto-friendly bank charter regime in Custodia Bank’s lawsuit with FedCrypto companies that have applied for bank charters in USAlthough it is uncommon for crypto companies to seek bank charters in the United States, there are examples of some who succeeded in the 2020s. Crypto exchange Kraken was approved for a bank charter in Wyoming in 2020, Anchorage Digital Bank received its charter in January 2021, and crypto lender Nexo purchased a stake in a holding company that owns a federally-chartered bank in 2022.Companies face challenges when applying for bank charters in the United States such as compliance with anti-money laundering laws and adherence to the Bank Secrecy Act. The increased regulatory oversight and centralization may also run contrary to the spirit of crypto, where decentralization is a core value.However, securing a bank charter comes with a major financial benefit: companies that do so can lower the cost of capital by accepting deposits.Magazine: Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky
ETH price prospects dim as Ethereum DEX volumes drop 34% in a week
Ether (ETH) price fell below $2,200 on March 9 and has struggled to recover since. The altcoin is down 14% in March and the decline has hurt investor sentiment, especially as the broader crypto market only dropped 4% in the same period. Adding to the bearish sentiment, traders are also worried about further ETH price corrections after a 34% weekly drop in decentralized exchange (DEX) activity on the Ethereum network.Blockchains ranked by 7-day DEX volumes, USD. Source: DefiLlamaDEX volumes on Ethereum dropped 34% in the last seven days, a trend that also affected its layer-2 solutions like Base, Arbitrum, and Polygon. The market slump hit some Ethereum competitors, too, with Solana’s DEX activity down 29% and SUI’s down 17%. On the other hand, BNB Chain saw a 27% weekly volume increase, while Canto surged an impressive 445%.Ethereum’s negative volume trends include an 85% drop for Maverick Protocol and a 46% decline for DODO compared to the previous week. More notably, fees on PancakeSwap—the top DEX on BNB Chain—surpassed those on Uniswap. While Ethereum remains the leader in DEX volumes, falling fees are reducing demand for ETH.Top protocols ranked by 7-day fees, USD. Source: DefiLlamaPancakeSwap, which operates exclusively on BNB Chain, generated $22.3 million in fees over seven days, surpassing Uniswap, which runs on Ethereum, Base, Arbitrum, Polygon, and Optimism. Other signs of Ethereum’s fee weakness include Lido trailing Solana’s Jupiter and AAVE, the leading Ethereum-based lending protocol, generating less in fees than Meteora, a Solana-based automated market maker and liquidity provider. Ethereum leads in total value locked, but the gap is narrowingOn the positive side, Ethereum remains the dominant leader in total value locked (TVL) at $47.2 billion, but a 9% weekly decline has significantly narrowed the gap with competitors. Furthermore, its layer-2 ecosystem showed increasing signs of weakness over the seven days leading up to March 18.Top blockchains ranked by total value locked, USD. Source: DefiLlamaSolana’s TVL dropped 3%, while BNB Chain saw a 6% increase in deposits compared to the prior week. Negative highlights for Ethereum’s TVL include an 11% decline in Stargate Finance over seven days, a 9% drop in deposits on Maker, and a 6% decline on Spark.Ethereum’s weakening onchain metrics aligned with reduced demand for leveraged longs in ETH futures, as their premium over spot markets fell below the 5% neutral threshold, signaling weaker confidence from traders.Ether 2-month futures annualized premium. Source: laevitas.chThe current 3% annualized ETH futures premium is the lowest in over a year, highlighting weak demand from bullish traders. Meanwhile, spot Ethereum exchange-traded funds (ETFs) have recorded $293 million in net outflows since March 5, signaling waning institutional interest.After Pectra upgrade, ETH needs a competitive edge and sustainable adoption’ Ethereum is also facing growing competition from Solana in the memecoin sector, particularly after the launch of the Official Trump (TRUMP) token. Simultaneously, Tron and Solana have captured a combined $75 billion in stablecoins by leveraging lower transaction fees. Adding to the pressure, Hyperliquid perpetual futures introduced its own blockchain, further challenging Ethereum’s market position.Related: Hyperliquid opened doors to ‘democratized’ crypto whale hunting: AnalystAll of this unfolded amid heated debates among investors and developers over whether Ethereum layer-2 solutions are disproportionately benefiting from extremely low rollup fees. Essentially, the decline in the DEX market share reflects waning institutional interest, particularly as Ethereum’s native staking yield sits at just 2.3% when adjusted for inflation-driven supply growth.For Ether to regain momentum, it must demonstrate a clear competitive edge. The upcoming ‘Pectra’ upgrade needs to provide a viable path for sustainable user adoption; otherwise, the odds remain stacked against ETH outperforming its rivals.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Cardano’s ADA lands spot in US Digital Asset Stockpile — Will it generate value?
Cardano’s ADA token has recently been making headlines after being mentioned by President Donald Trump as one of the cryptocurrencies to be included in the US strategic crypto reserve. This news has sparked both surprise and criticism within the crypto community, with many questioning the token’s inclusion in the digital asset stockpile.
Launched in 2017, Cardano is one of the oldest smart contract platforms and differentiates itself through its research-driven design approach and use of a delegated proof-of-stake mechanism. Its native coin, ADA, is used for network fees, staking, and governance, with a maximum supply of 45 billion.
One of the main arguments for ADA’s inclusion in the US Digital Asset Stockpile is its capped supply, which can support the coin’s value. Additionally, Cardano’s decentralized governance and ambitious plans for onchain governance also make it an attractive option.
However, when looking at other metrics such as transaction fees, staking yields, and DApp activity, Cardano lags behind its competitors. In Q4 of 2024, the blockchain processed an average of 71,500 daily transactions, with quarterly fees totaling $1.8 million. This is in stark contrast to Ethereum’s $552 million in fees over the same period.
Furthermore, Cardano’s annualized real staking yield was approximately 0.7% in Q4, compared to Ethereum’s 2.73%. Its DApp activity also remains low, with an average of just 14,300 daily transactions in Q4.
These metrics raise concerns about ADA’s long-term value and its suitability for a government-managed asset pool. However, there is potential for growth and adoption in the future, especially with projects exploring Cardano’s compatibility with Bitcoin.
In the end, the decision to include ADA in the US Digital Asset Stockpile will depend on its ability to attract developers and build mass, sustainable audiences. Only then will it truly justify its place in a government portfolio.