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‘Bitcoin Rights Bill’ Passed By Pennsylvania House With Bipartisan Backing — Protects Right To Self-Custody Crypto

Posted On October 25, 2024

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 (CRYPTO: BTC) 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 …

Full story available on Benzinga.com

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