Pennsylvania House Passes Bitcoin Rights Bill

The Pennsylvania House of Representatives has passed House Bill 2481, known as the Bitcoin Rights Bill, which provides regulatory clarity for digital assets in the state. This bipartisan bill, which passed with a 176-26 vote, aims to protect the rights of residents to self-custody digital assets, use Bitcoin as a payment, and outlines guidelines for taxing digital transactions. Developed with input from the Satoshi Action Fund, the legislation reflects Pennsylvania's proactive stance amid federal uncertainty regarding crypto regulation. With over 1.5 million residents owning digital assets, the state seeks to become a favorable environment for blockchain innovation. The bill now advances to the Pennsylvania Senate and, if approved, will proceed to Governor Josh Shapiro for enactment. Pennsylvania's move is part of a broader trend where states are establishing their own crypto regulations in the absence of clear federal guidelines.