Crypto News Today : March 1st – Whitehouse Crypto Summit, Bitcoin News, Pi Coin Price

U.S. House Democrats have introduced the MEME Act, targeting the promotion of memecoins, including Trump’s memecoin, by government officials. California Rep. Sam Liccardo criticized President Trump for promoting the coin, which allegedly caused $2 billion in losses for 800,000 Americans. The move follows prior efforts to restrict officials from benefiting from such coins. Meanwhile, Trump’s memecoin, along with others, has seen a significant drop in value.

Ukraine’s lawmakers are still debating crypto tax rates amid efforts to legalize digital assets this year. While some officials forecast the bill passing soon, expert Taras Kozak suggests crypto legalization may be delayed until next year, with tax rates potentially starting in 2026. Ukrainians are open to a 5%-10% tax on crypto income, but the final tax rate remains under discussion. The country’s crypto laws await amendments to the Tax Code before full implementation.

The Central Bureau of Investigation (CBI) has seized cryptocurrencies worth INR 23.94 crores ($2.75 million) and key evidence following nationwide raids targeting the Gainbitcoin scam across India. The operation, conducted on February 25-26, 2025, spanned over 60 locations, including major cities like Delhi, Mumbai, and Bengaluru. Gainbitcoin, a Ponzi scheme that collapsed in 2017, led to significant fraud involving fake cryptocurrencies. The investigation is ongoing.

The Senate Banking Committee is set to review Senator Hagerty’s stablecoin bill, the GENIUS Act, during the week of March 10. The bill, introduced on February 4, 2025, limits stablecoin issuance to certain entities, including subsidiaries of insured depository institutions. It mandates full 1:1 backing with US dollars or high-quality liquid assets and prohibits algorithmic stablecoins. The bill also calls for federal oversight for issuers with over $10 billion market cap.

Ethereum (ETH) is down 2% on Friday as long-term holders (LTHs) and whales joined smaller retail investors in selling. Over 500K ETH has been deposited on exchanges since February 21, signaling a rise in selling activity. Whales holding 10K-100K ETH have sold over 620K ETH in the past four days, pushing ETH towards the $2,000 level. The Ethereum Foundation has also launched the Silviculture Society to engage more community voices.

The SEC has recently dropped multiple cases against major crypto platforms like Coinbase, Binance, and ConsenSys, signaling a more favorable environment for the industry under Acting Chair Mark Uyeda. While some analysts see this as a win, others caution that the lack of clear rules could still lead to future risks. The SEC is focusing on policy development, rather than using enforcement as regulation. Debate continues in Congress on stablecoins and market structure.

A U.S. federal judge has dismissed the SEC’s lawsuit against Richard Heart, the founder of HEX, PulseChain, and PulseX, ruling that the agency lacked jurisdiction. Judge Carol Bagley Amon stated that Heart’s online communications were “untargeted, globally available information” and not specifically aimed at U.S. investors. The court found that the SEC failed to prove Heart intentionally engaged with the U.S. market. The SEC can appeal or amend the ruling within 20 days.

Robert Kiyosaki criticizes the US banking system, particularly the Federal Reserve, calling them “banksters” who bail out failing institutions instead of facing the consequences. He warned that the current financial system, including the US dollar, is a scam and predicted a collapse. Kiyosaki advised people to protect themselves by investing in real gold, silver, and Bitcoin, cautioning against ETFs tied to these assets.

US President Donald Trump’s meeting with Ukrainian President Volodymyr Zelensky escalated quickly into a heated argument during their first meeting since Trump resumed office. The discussion, originally diplomatic, became confrontational when Vice President JD Vance criticized Ukraine’s handling of the war, leading to sharp exchanges. Trump later stated Zelensky wasn’t ready for peace, and Zelensky refused to apologize, expressing hopes for repaired US-Ukrainian relations despite the row.

Ishan Bhaidani, a crypto trader and marketing executive who predicted the collapse of FTX, shared his thoughts on the ongoing creditor repayments. With the first round of reimbursements starting on Feb. 18, 2025, Bhaidani considers the two-year timeline a “win,” given the complexity of the multinational nature of FTX and jurisdictional issues. He also commented on the success of those who bought claims from FTX creditors, noting strong gains for those who bought crypto assets at low prices.

President Trump is set to attend and speak at the inaugural White House Cryptocurrency Summit on March 7. The summit will feature prominent founders, CEOs, and investors from the cryptocurrency industry, along with members of the President’s Digital Asset Task Force. The event will be hosted by David Sacks, the White House AI and cryptocurrency czar, and managed by Bo Hines, the task force’s executive director.