In the United States, the state of Oklahoma is trying something new. A law called the “Bitcoin Freedom Act” has been proposed. It would let people and businesses use Bitcoin more easily. For example, you could choose to get paid in Bitcoin if your boss agrees. Shops could also accept Bitcoin instead of normal money. This law is still being discussed, but it shows how governments are slowly starting to accept digital money.
The goal of the law is to give more freedom to people when using Bitcoin. The state also wants to protect against inflation — when normal money loses value. This is one reason why some people prefer Bitcoin. The plan includes tax rewards for businesses and also has a part that teaches people about cryptocurrency.
Much like how UK casinos not on GamStop offer more choice outside of regular systems, Oklahoma’s proposal wants to create flexible options in finance too.
FTX’s Fall and Backpack’s Big Move in Europe
A company called Backpack just bought FTX EU. This was the European part of the failed FTX crypto exchange. The deal is said to be worth around €30 million. It was approved by both the courts and financial authorities in Cyprus. This step gives Backpack a license to offer crypto services under EU rules.
This isn’t just about business. Backpack says it will help people who lost money during the FTX collapse. They plan to open a new platform called “Backpack EU” where former FTX users can register and begin the process of getting their money back.
However, crypto claims will still be handled by the FTX estate. That means crypto assets won’t be returned directly by Backpack. Still, this is seen as a positive step after the chaos left by FTX. It shows that some companies are trying to clean up the mess, follow the rules, and rebuild trust in the crypto world.
Thailand’s Bitcoin Mining Crackdown: Nine Sites Closed
In Thailand, police discovered and shut down nine illegal Bitcoin mining centers. These places were using stolen electricity to run powerful computers for mining. It’s estimated they took over 10 million baht worth of power, which is a serious crime. Two men were arrested and charged.
This operation started because someone reported suspicious activity near what looked like an empty house. The police, working with the electricity department, found hidden mining equipment. After that, they found more places doing the same thing.
Bitcoin mining needs a lot of electricity. In Thailand, electricity is cheap, so it’s a popular spot for miners. But legal mining must follow rules. You need permits and must pay for the power you use. If not, you can face big fines or even go to jail.
This case is one of many worldwide where governments are cracking down on crypto activities that break the law or damage public systems.
Crypto Market Hit by $520M in Liquidations as Bitcoin Falls
The last 24 hours have been very tough for crypto traders. Over $520 million was lost as the prices of many coins dropped suddenly. Bitcoin was the main cause. It had been climbing toward $100,000 but suddenly dropped below $96,000.
This change surprised many traders. Around 197,000 of them had to close their trades. Most of the money lost came from long positions. These are bets that the price will go up. When prices fell, they lost badly. Bitcoin alone saw $70 million in losses. Ethereum and Dogecoin also lost a lot.
This shows how risky the crypto market can be. Many people use leverage, meaning they borrow money to make bigger trades. But if the price moves the wrong way, they lose more. That’s what happened here.
The lesson is clear: it’s very important to understand the risks when trading. The market moves fast, and big changes can happen in just one day.
Hong Kong Launches New Program for Safe Blockchain Use
The Hong Kong Monetary Authority has launched a new program. It’s called the “Supervisory Incubator for Distributed Ledger Technology,” or DLT. The goal is to help banks use blockchain safely and effectively. Blockchain can make banking faster and more secure, but it needs to be done right.
This program will guide banks in testing new blockchain systems, especially for tokenized deposits. These are digital versions of normal money. Banks can try these systems with help from experts. This way, they can test for problems before offering services to the public.
The program also helps the whole banking industry by sharing good practices and doing research. It’s meant to speed up blockchain use while keeping everything safe.
This shows that Hong Kong wants to stay ahead in finance and technology. With smart planning, they hope to improve services, reduce costs, and create new financial tools
Fake OKX Extension Puts Crypto Users at Risk
OKX, a popular crypto exchange, gave a warning about a fake browser extension using its name on Firefox. The fake plugin is not made by OKX and may steal users’ information. The company says it has no official browser tools.
Fake extensions are a growing problem. They often look real and use the same branding as the company they copy. But once you install them, they can take your passwords, private keys, and even empty your crypto wallet.
OKX told users to only download tools from trusted sources. It also suggests turning on two-factor authentication and checking your account often.
As crypto grows, scams are also growing. It’s important to be careful. A small mistake, like trusting the wrong extension, can lead to big losses. This warning is a reminder that in crypto, you need to double-check everything — especially when it involves your money.
