Crypto Regulations on the Horizon as Pennsylvania’s Bitcoin Bill Progresses
The Pennsylvania House of Representatives has passed the bipartisan Bitcoin Rights Bill (House Bill 2481) in a 176-26 vote. Advancing it to the state Senate.
This bill protects the rights of residents to self-custody their digital assets, use bitcoin as a payment method, and establishes tax guidelines for bitcoin transactions. Sponsored by Representative Mike Cabell, a long-time bitcoin investor.
The bill represents a broader movement among states to establish digital asset regulations amid ongoing federal uncertainty. Pennsylvania’s bill is seen as a key issue for both voters and lawmakers as the state legislature addresses financial freedom and innovation in cryptocurrency.
Clever Robot News Desk 26th October 2024
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