{"id":1622,"date":"2024-10-24T18:50:31","date_gmt":"2024-10-24T18:50:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1622"},"modified":"2024-10-24T18:50:31","modified_gmt":"2024-10-24T18:50:31","slug":"pennsylvania-house-passes-bitcoin-rights-bill-with-bipartisan-support","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1622","title":{"rendered":"Pennsylvania House Passes \u2018Bitcoin Rights\u2019 Bill With Bipartisan Support"},"content":{"rendered":"
\n

The Pennsylvania House of Representatives has made a significant move in the cryptocurrency regulation landscape in the US by passing the \u2018Bitcoin Rights\u2019 bill with \u201coverwhelming\u201d bipartisan support.\u00a0<\/p>\n

A Landmark Move For Bitcoin Rights<\/h2>\n

The bill, officially known as House Bill 2481, received <\/a>a decisive vote of 176 to 26, with 76 Democrats and all 100 Republicans backing the measure.\u00a0<\/p>\n

The bill aims to protect the rights of individuals to self-custody their digital assets, affirm their ability to use Bitcoin for payments<\/a>, and establish explicit guidelines for the taxation of Bitcoin transactions.\u00a0<\/p>\n

After the upcoming election, the bill will advance to the Republican-led Pennsylvania Senate, and if approved, it will be sent to Governor Josh Shapiro for final approval.<\/p>\n

Crafted in collaboration with the Satoshi Action Fund <\/a>(SAF), an advocacy group focused on promoting Bitcoin legislation, this bill is part of a broader trend across the United States where state legislatures are stepping in to create regulatory frameworks for the crypto industry.\u00a0<\/p>\n

The Satoshi Act Fund has successfully influenced similar legislation in 20 other states, with four already enacted into law in Oklahoma, Louisiana, Montana, and Arkansas.<\/p>\n

Dennis Porter Highlights BTC Vote As New Political Force<\/h2>\n

In a politically charged election year, cryptocurrency regulation <\/a>has emerged as a contentious issue, with both Republican and Democratic lawmakers recognizing the need for a balanced approach.\u00a0<\/p>\n

Republican state Representative Mike Cabell, the bill\u2019s sponsor and a long-time Bitcoin investor, praised the bipartisan nature of the bill, stating:\u00a0<\/p>\n

\n

In such polarizing times, it\u2019s great to see both sides of the aisle come together to further innovation and prioritize security for Pennsylvanians who own and transact with cryptocurrency.<\/p>\n<\/blockquote>\n

In addition, the growth of crypto ownership<\/a> in Pennsylvania reflects the increasing interest in digital assets, with approximately 1.5 million residents\u2014about 12% of the state\u2019s population\u2014holding some form of cryptocurrency.\u00a0<\/p>\n

This demographic is becoming increasingly influential, particularly in Pennsylvania, which is viewed as a crucial battleground state in the upcoming presidential election.<\/p>\n

Dennis Porter, founder of the Satoshi Action Fund, noted the strategic importance of the bill, claiming that it could significantly impact the political landscape<\/a>, elaborating that the Bitcoin vote represents a \u201cnew, growing voter bloc actively seeking a political home\u201d.\u00a0<\/p>\n

Despite the bill\u2019s success, some opposition remains. The 26 votes against the measure came from members who either lacked a comprehensive understanding of blockchain technology<\/a> or expressed environmental concerns related to Bitcoin mining, according to FOX.\u00a0<\/p>\n

Nevertheless, Representative Mike Cabell remains hopeful about the bill\u2019s prospects in the Senate, emphasizing that a commitment to financial freedom should transcend party lines.<\/p>\n

\"Bitcoin\"<\/p>\n

At the time of writing, BTC was trading at $67,780, up over 2.5% in the last 24 hours.<\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Pennsylvania House of Representatives has made a significant move in the cryptocurrency regulation landscape in the US by passing the \u2018Bitcoin Rights\u2019 bill with \u201coverwhelming\u201d bipartisan support.\u00a0 A Landmark Move For Bitcoin Rights The bill, officially known as House Bill 2481, received a decisive vote of 176 to 26, with 76 Democrats and all […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1622","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1622"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1622\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}