Market
Why Bitcoin Reserve Bills Fail: VeChain Executive Weighs In

In an interview with BeInCrypto, Johnny Garcia, Managing Director of Institutional Growth and Capital Markets at VeChain Foundation, addressed the rejection of Bitcoin (BTC) reserve bills. He emphasized that the core issue goes beyond legislative resistance—highlighting the need for greater education for both the public and policymakers.
His remarks come as five states have already dismissed the legislation. As of now, only 18 states are still considering the possibility of integrating digital assets like Bitcoin into their financial systems.
VeChain’s Executive Weighs In on Bitcoin Reserve Bill Rejections
Garcia pointed out that establishing federal or state Bitcoin reserves could drive innovation by modernizing investment frameworks and enhancing operational capabilities.
“This would bring all the benefits we in crypto are quite familiar with: transparency, immediate settlement, managing counterparty risks—to name a few,” Garcia told BeInCrypto.
Yet, he acknowledged that skepticism persists. Garcia noted that many are still unconvinced about a Bitcoin reserve’s utility and economic sense. The debate becomes even more complex when considering funding sources.
“Not every citizen in a given state will agree with their taxes financing crypto purchases—something they could just do themselves,” he commented.
Thus, Garcia emphasized that states would need to focus on educating their citizens about the purpose and objectives of including Bitcoin in their reserve portfolios. He stressed that while regulatory frameworks are crucial, success hinges on demonstrating real-world value beyond speculation.
“The blockchain/DeFi industry needs to step up and show that it can deliver proven solutions that go beyond speculative investment and offer real-world value,” Garcia remarked
He added that to truly change the minds of political and governmental stakeholders, especially those who are instinctively skeptical of crypto, the solutions must extend beyond financial considerations. The exec emphasized that blockchain technology needs to demonstrate its ability to address a broader range of problems.
Garcia highlighted VeChain as a prime example of how blockchain can tackle both new and ongoing issues. He drew attention to VeChain’s use of blockchain to verify sustainability efforts. Garcia noted that such applications make it harder for lawmakers to ignore the technology’s real-world value beyond finance.
Cryptocurrency Reserve Bill Rejections Don’t Represent a Unified View on Crypto
Meanwhile, Garcia cautioned against viewing the rejections at the state level as blanket opposition to cryptocurrency.
“I wouldn’t say this necessarily reflects deeply ingrained opposition to the concept of crypto in the form of reserves, stockpile, or just another alternative investment option,” he shared with BeInCrypto.
According to Bitcoin Laws, a total of 33 Bitcoin reserve bills were introduced in 23 states. However, Montana, Wyoming, North Dakota, Mississippi, and Pennsylvania have rejected the legislation that would have allowed state investments in digital assets, including Bitcoin.

Currently, there are 27 active bills in 18 states. Importantly, Utah, which was once at the forefront of the Bitcoin reserve race, recently dropped out on a technicality. The Utah bill is still progressing but without the ‘Bitcoin Reserve’ provisions, which have been removed.
Garcia offered a more nuanced view of the legislative resistance. According to him, although several states have voted against reserve bills, the opposition often comes by small margins.
He encouraged assessing the specific reasons behind the rejections rather than generalizing. Gracia also welcomed that states are taking the time to consider the issue carefully.
As states navigate their own approaches to cryptocurrency, momentum is growing at the national level. Senator Lummis has reintroduced the BITCOIN Act. This came shortly after former President Trump signed an executive order to create a strategic Bitcoin reserve funded with seized Bitcoins.
Originally introduced in July 2024, Lummis’ BITCOIN Act failed to pass out of Committee in the Senate.
“I am proud to reintroduce landmark legislation that will codify President Trump’s bold vision to establish the United States Strategic Bitcoin Reserve and strengthening our nation’s economic foundation for generations to come,” Lummis wrote on X.
The bill aims to create a US Strategic Bitcoin Reserve, backed by up to 1 million BTC acquired over five years. Moreover, the holdings would be maintained for at least 20 years.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Price Builds Base—Short-Term Rally May Be Brewing

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Market
BTC could surge to $85k as Bitcoin Pepe’s presale eyes $5M


Key takeaways
- Bitcoin could surge towards the $85k level after sweeping the $78k liquidity zone.
- Bitcoin Pepe’s presale has surpassed $4.5 million, with stage seven almost over.
BTC eyes the $85k region
The cryptocurrency market has been bearish over the past few days, with Bitcoin struggling around the $80k region. The world’s leading cryptocurrency by market cap, dropped to the $79k zone on Thursday, effectively grabbing liquidity and could surge to the $85k level in the coming hours or days.
At press time, the price of Bitcoin stands at $81,909 and could rally higher if the bulls take control of the market.
What is Bitcoin Pepe?
The bearish market condition hasn’t affected Bitcoin Pepe as its presale is now approaching a new milestone. This exciting project began its presale a month ago and has raised over $4.5 million from investors.
Bitcoin Pepe wants to revolutionise the Bitcoin ecosystem by leveraging the liquidity and security of the Bitcoin blockchain. It will use Bitcoin’s position in the market to introduce memecoins to its ecosystem.
The team is currently building a layer-2 network on the Bitcoin blockchain. This L2 will specialise in memecoin trading and other DeFi activities. It will enable Bitcoin Pepe to become home to memecoin activities within the Bitcoin ecosystem. This will help it unlock decentralized finance (DeFi) and meme trading on top of BTC.
Bitcoin Pepe is also the first meme initial coin offering (ICO) on the Bitcoin blockchain, making it the perfect fusion between BTC’s security and the unstoppable force of memecoins.
Bitcoin Pepe presale surpasses $4.5m
The Bitcoin Pepe presale is selling out fast, with investors putting in $4,686,963 into the project over the past four weeks. Currently in its seventh stage, the presale will enter the next stage after raising $5.67 million.
$BPEP, Bitcoin Pepe’s native token, is available to investors via the Bitcoin Pepe website. It can be purchased using various cryptocurrencies, including ETH, USDT, USDC, BNB, and SOL. In this sixth presale stage, $BPEP is worth $0.0281 and will increase to $0.0295 in the eighth stage.
How will Bitcoin Pepe impact the Bitcoin blockchain?
Bitcoin Pepe is launching an L2 that could revolutionise how users interact with the Bitcoin blockchain. This L2 will introduce DeFi and memecoin trading on Bitcoin, which could enhance the network’s utility, enabling it to compete with smart contract blockchains like Ethereum and Solana in terms of utility.
Furthermore, the network will enable developers to launch memecoins on the Bitcoin blockchain with ease. Memecoins will empower the Bitcoin blockchain to become home to a crazy high-octane meme experience.
The Bitcoin Pepe project is working to unlock Bitcoin’s $2 trillion dormant market cap, making it available for memecoin trading. The network will provide the necessary infrastructure for all memes to migrate to BTC, ensuring security and liquidity for investors and users.
Should you buy the $BPEP token today?
The $BPEP token will exclusively power activities within the Bitcoin Pepe ecosystem. With the right level of adoption, $BPEP could be a top performer within the broader cryptocurrency market.
The presale will enter the eighth stage in the coming hours or days, with the $BPEP token set to increase to $0.0295. Thanks to the promising utility of its L2 network, this presale could be the perfect opportunity for investors to get in early and buy the tokens at a discount.
Market
XRP Likely To Be Classified as a Non-Security Like Ethereum

According to recent rumors, the SEC is considering reclassifying the XRP token as a commodity. The Commission is apparently comparing XRP to ETH, which was reclassified in the past.
Today, Vermont regulators cited the SEC’s new Crypto Task Force as a reason to drop its suit against Coinbase. In 2022, the state financial regulators argued that staking services violated securities laws, but it no longer holds this position. That swap could help establish a precedent for Ripple.
Ripple and the SEC Continue Deliberating
The SEC v Ripple case is a very hot issue in the crypto community, and for good reason. Under Gary Gensler, the Commission claimed that XRP was an unlicensed security and tried to block all sales.
Yesterday, rumors claimed that the case might be resolved soon and that Ripple is trying to negotiate far-reaching changes. A possible new angle has emerged:
“One issue that is being weighed by the Commission is whether XRP continues to trade and have a utility that makes it more a commodity, not a security. The Ethereum example is key; ETH was obviously issued as an ICO…no different from XRP, yet Ripple got sued and Ethereum didn’t because ETH had since morphed into a commodity,” claimed Charles Gasparino.
Such a proposal would be a significant change to US crypto regulations, but it’s plausible for several reasons. First of all, Commissioner Hester Peirce claimed that the SEC may stop considering some assets as securities, and it has already reclassified meme coins.
The Commission is also planning new collaborations with the CFTC, the US’ highest commodities regulator.
Already, the new post-Gensler SEC has laid some crucial groundwork for an XRP reclassification. If Ripple and the SEC can agree, XRP would be bound by much less severe regulations, which would almost certainly have a bullish impact on its market value.
XRP Has a Lot in Common with Ethereum
If the SEC drops its lawsuit against XRP, the altcoin can be evaluated primarily based on its decentralized functionality and utility within respective networks rather than as investment contracts—just like Ethereum was evaluated.
This shift would emphasize the role XRP plays in facilitating real-time transactions on its network, aligning its characteristics more with commodities.
Technically this would be easy to assess, as Ripple always provides payment infrastructure for several global banks and payment services.
Additionally, the SEC could point to other legal efforts to establish a precedent for the Ripple case. In 2022, Vermont and several other US states sued Coinbase, claiming that its staking services violated securities laws. Today, Coinbase’s Chief Legal Officer announced that Vermont dropped its charges, citing the SEC’s new paradigm:
“The SEC has announced the formation of a new task force to, among other things, provide guidance for the promulgation of rules regarding the regulation of cryptocurrency products and services. In light of the… likelihood of new federal regulatory guidance, the Division [will] rescind the pending Show Cause Order, without prejudice,” Vermont’s dismissal read.
In other words, one state already claimed that the Commission’s new guidelines have voided its old argument. If the SEC decides that it was previously too harsh to Ripple, it would be within its rights to reclassify XRP.
Ultimately, if XRP is classified as a commodity after April 16, it would immediately increase or even confirm the likelihood of XRP ETF approvals. Overall, such a scenario would be extremely bullish for the third-largest altcoin.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
-
Bitcoin22 hours ago
US Strategic Bitcoin Reserve Sparks Crypto Regulation Surge
-
Market23 hours ago
XRP Bulls Ready to Charge—Upside Break May Spark Rally
-
Market20 hours ago
PEPE Whales Propel 11% Rally, Fueling Market Optimism
-
Altcoin23 hours ago
Chainlink Whale Sells 356K Coins Sparking Concerns; Can LINK Price Hit $45?
-
Market21 hours ago
WLFI Token Sale Reaches 99.3% Completion
-
Market18 hours ago
Solana Hit by Bearish Signal After 3 Years, Price at Risk
-
Market22 hours ago
Ethereum Price Hits Resistance—Will The Recovery Stall Here?
-
Market15 hours ago
Celestia TIA) Price Nears Consolidation After 31% Rally