alabama

The Governor of Alabama has signed Bill SB 277, creating a legal framework for nonprofit entities similar to DAOs. Alabama becomes the second state in the United States to establish a legal framework for entities similar to DAOs. The bill stipulates that members of a DAO are generally not personally liable for its collective activities.

According to Cointelegraph, the governor of Alabama has signed the "Decentralized Non-Registered Non-Profit Association Act," becoming the second state to grant legal status to DAOs after Wyoming.The act provides legal status and limited liability protection for DAOs, allowing them to have full corporate entity qualifications, own property, sue and be sued, and enter into contracts, while individual members and managers are exempt from personal liability. The eligibility requirements state that a DAO must have at least 100 members and be formed for a common non-profit purpose (such as governing a blockchain network or smart contract system). The policy director of a16z Crypto stated that decentralized governance is at the core of the future of crypto, and this act provides certainty for decentralized communities to build, govern, and scale in the real world. A similar bill in West Virginia has passed the House and is awaiting the governor's signature.

According to The Block, a federal judge in Alabama has dismissed the lawsuit accusing Binance entities and Binance.US operator BAM Trading Services of funding terrorism, ruling that the plaintiff's complaint does not meet the basic standards for a federal complaint.The district judge noted in the order that the plaintiff's amended complaint is flawed both legally and factually, characterizing it as a typical "shotgun complaint"—mixing multiple defendants and plaintiffs without clearly associating specific allegations with particular parties.The lawsuit was filed by victims and families of the attacks by Hamas and the Palestinian Islamic Jihad, seeking damages under the Anti-Terrorism Act and other laws. The complaint exceeds 100 pages and contains hundreds of allegations but repeatedly groups the defendants together without specifying the particular actions each entity is alleged to have taken. The judge has given the plaintiffs until April 10 to submit a revised complaint and warned that failure to correct the deficiencies would result in the case being dismissed.

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal stated on the X platform: "We have made half the progress: Alabama has just withdrawn its enforcement action against Coinbase—within just two months, the number of states filing such erroneous staking lawsuits has been halved.There are still five states choosing to waste taxpayers' resources on lawsuits, four of which also prohibit staking on Coinbase, depriving consumers of their right to profit on the platform of their choice."

ChainCatcher news, the state of Alabama in the United States has passed a bill allowing the state investment council to allocate funds to BTC and cryptocurrencies.It is reported that previously, U.S. Senator Tommy Tuberville from Alabama stated that he plans to reintroduce the Financial Freedom Act on April 1, allowing Americans to include cryptocurrencies in their 401(k) retirement savings plans. This is his third attempt to push the bill through after 2022 and 2023.

ChainCatcher news, according to The Miner Mag, Bitcoin mining company Core Scientific has expanded its high-performance computing (HPC) hosting business to Auburn, Alabama, by leasing AUBix's existing facilities. The company plans to make an initial capital investment of approximately $135 million in this 40,000 square foot facility, with total investments expected to exceed $400 million.Auburn Mayor Ron Anders stated that Core Scientific's $400 million investment is expected to bring in $1.5 million in annual tax revenue for the local area. The lease is for a term of 10 years, with the company having the option to extend it in increments of 5 years for up to 15 years.It is worth noting that Core Scientific resumed its full "HODL" strategy in January of this year, retaining all monthly Bitcoin production, increasing its Bitcoin holdings to over 500 coins.

ChainCatcher news, according to Bitcoin News, Bitcoin mining company Digihost plans to convert its Bitcoin mining facility located in Alabama into an artificial intelligence and high-performance computing data center. This move is a business adjustment made in response to regulatory restrictions in New York State.

ChainCatcher news, according to Bitcoinist, recently, Alabama State Auditor Andrew Sorrell publicly proposed the establishment of a Strategic Bitcoin Reserve (SBR). This proposal is based on the growing interest of federal and state policymakers in SBRs, as well as the backdrop of a significant increase in Bitcoin prices following Trump's election as president.In a media interview, Sorrell emphasized what he believes to be the inevitability of long-term success for Bitcoin and cryptocurrencies: "The debate about whether cryptocurrencies will succeed is over. To date, cryptocurrencies represent a $3 trillion asset class, while the state's investment in cryptocurrencies is zero. It is also the fastest-growing asset class with the greatest potential for price appreciation."Additionally, he stated that the establishment of the SBR has three main objectives: portfolio diversification, cryptocurrency-friendly positioning, and safeguarding against currency-related risks.