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March 1, 2025 06:11:35 UTC U.S. Lawmakers Push to Stop Trump Memecoin 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. March 1, 2025 06:04:49 UTC Ukraine Crypto Tax Update 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. March 1, 2025 06:04:49 UTC CBI Seizes $2.75 Million in Cryptocurrencies in Connection with Gainbitcoin Scam in India 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. March 1, 2025 06:01:32 UTC Senate Banking Committee to Review Hagerty’s Stablecoin Bill (GENIUS Act) 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…