US states – Idelto

Dogecoin Scores 23 States, While Bitcoin Commands 10

A recent study authored by Coin Insider combed through Google Trends data to find out which crypto asset was searched for by the most states. The research indicates that the meme-based cryptocurrency dogecoin (DOGE) is the most popular in the United States, at least according to Google Trends data. DOGE scored 23 states as Coin Insider’s data explains.

Trends Study Says Dogecoin Is the Most Googled Cryptocurrency in the US

Dogecoin (DOGE) is currently the 12th largest crypto asset in terms of valuation as the crypto asset’s market cap is $19.8 billion. DOGE also holds the title as the top meme-coin asset out of the $36.4 billion worth of meme-based cryptocurrencies. Coin Insider’s metrics show dogecoin captured states like North Dakota, Montana, Illinois, Florida, Hawaii, New Mexico, New Jersey, and Oregon.

Meanwhile, bitcoin (BTC) scored ten states which include Idaho, Arkansas, Mississippi, Connecticut, Alaska, and New Hampshire. According to Google Trends (GT) data, the search term “bitcoin” in the U.S. currently has a score of 29 out of a top score of 100. The last time the search query for “bitcoin” hit a score of 100 was during the week of May 16-22, 2021.

Ethereum, Shiba Inu, Cardano Trail Behind

Ethereum (ETH) captured eight states which include Ohio, Virginia, Georgia, Indiana, and Louisiana. Behind ethereum’s heels in the study is shiba inu (SHIB), as the meme-based crypto asset collected a total of seven states in the country. After hitting 100 during the week of October 24-30, 2021, the search term “SHIB” now has a zero rating.

The smart contract token cardano (ADA) captured Colorado, according to Coin Insider’s findings. While ADA is up 40% during the last 30 days, year-to-date stats show cardano has only gained 2.6%. The search term “cardano” in the U.S. tapped a high of 100 during the week of May 9-15, 2021, according to GT metrics. This week, the search query for “cardano” currently has a GT score of 18.

Coin Insider’s research claims dogecoin’s popularity is partly due to Elon Musk’s endorsement of the meme-coin in recent times. “The rise in interest can be partially attributed to the endorsement of Elon Musk who stated in 2021 that Tesla would accept Dogecoin as a form of payment,” Coin Insider’s study says.

What’s your opinion of Coin Insider’s recent study? Do you agree with the study’s findings? Let us know what you think about this subject in the comments section below.

49 US States Unveil Unified Regulation for Cryptocurrency Firms

The Conference of State Bank Supervisors, representing regulators from all U.S. states and territories, has launched a new regulatory framework for payments and cryptocurrency companies.

One Set of Rules for All US States

Regulators in 49 U.S. states have agreed to a single set of supervisory rules for money services businesses, including cryptocurrency service providers. State regulators supervise 79% of all U.S. banks.

The new regulatory regime for money services businesses launched by the Conference of State Bank Supervisors (CSBS) on Tuesday will help companies expand across U.S. states and lower the compliance costs for regulators. The CSBS is the national organization of bank regulators from all 50 states, American Samoa, the District of Columbia, Guam, Puerto Rico, and U.S. Virgin Islands. The organization also operates the Nationwide Multistate Licensing System on behalf of state regulators.

A spokesperson for the CSBS told news.Bitcoin.com on Wednesday:

All states that regulate money transmitters are involved: all states except Montana. DC and Puerto Rico are also signed on.

The new system aims to “ensure compliance with regulations on anti-money laundering, cybersecurity, financial condition and other areas,” the spokesperson added, noting that “Companies have to be licensed in 40+ states to be included.”

Tuesday’s announcement details that the “MSB Networked Supervision” initiative, as the new system is called, “will apply to 78 of the nation’s largest payments and cryptocurrency companies that combined move more than $1 trillion a year in customer funds.”

Under the new framework, nationwide payments firms — including Western Union and Paypal — will undergo a single comprehensive exam by a joint group of state regulators to satisfy all state regulatory requirements, instead of having to pass dozens of individual state exams.

“The single exam will be led by one state overseeing a group of examiners sourced from across the country,” the announcement continues. “By relying on experts across the state system — including in cyber security and anti-money laundering — regulators will gain more insight while also freeing up state resources.”

“The next stage will be equally important as we raise the bar for multistate exam coordination,” said Money Transmitter Regulators Association Board president Rick St. Onge. “For over a century, state regulators have responded to evolutions within the money transmission industry, and networked supervision is the logical next step to more effectively and more efficiently supervise the growing number of nationally operating companies.”

What do you think about this initiative? Let us know in the comments section below.

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