The Pennsylvania House of Representatives has passed a bipartisan bill aimed at providing regulatory clarity for digital assets.
The bill addresses residents’ rights to self-manage digital assets, the use of Bitcoin as a payment method, and tax guidelines for Bitcoin transactions. Pennsylvania is a state of vital importance to both parties, with about 12% of residents holding cryptocurrencies. The bill, developed with the assistance of Bitcoin advocacy group Satoshi Action Fund, reflects a trend among states to establish regulatory frameworks for the crypto industry. The bill will be submitted to the Republican-led Pennsylvania Senate for consideration after the election. SAF has been involved in similar legislative work in 20 other states, with Oklahoma, Louisiana, Montana and Arkansas having enacted relevant laws. (CoinDesk)