CandleFocus Pennsylvania House passes Bitcoin Rights Bill ahead of 2024 election
2024-10-24
Author: Content Editor
The Pennsylvania House of Representatives has passed House Bill 2481, known as the Bitcoin Rights Bill, with overwhelming bipartisan support. The bill provides regulatory clarity for digital assets, protects residents' rights to self-custody, enables Bitcoin payments, and sets guidelines for taxing Bitcoin transactions. This move by Pennsylvania lawmakers comes amid federal uncertainty about crypto regulation, and the state is taking matters into its own hands. Advocacy groups like the Satoshi Action Fund have played a role in crafting similar bills in other states. With Pennsylvania being a pivotal swing state in the 2024 presidential election and a significant number of residents owning digital assets, the bill could potentially influence the outcome of tight races, including the Senate contest. Advocates believe that the bill is likely to pass in the state Senate, marking a significant step forward in state-level crypto regulation.
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