The state of Pennsylvania has passed legislation setting clear regulatory guidelines for cryptocurrencies, with bipartisan support.
What Happened: The Pennsylvania House of Representatives gave the green light to House Bill-2481, also known as the Digital Assets Authorization Act, or more popularly the “Bitcoin Rights” bill.
The bill, drafted by the Bitcoin advocacy group Satoshi Action Fund, safeguards the self-custody of assets like Bitcoin BTC/USD and stablecoins, allows them to be used for payments, and exempts them from additional taxation.
Introduced by state Rep. Mike Cabell, the bill was passed with a significant majority of 176 to 26 in a bipartisan vote. However, it still needed the approval of the Pennsylvania Senate and the signature of Governor Josh Shapiro to become law.
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Why It Matters: This move by…
