Pennsylvania House of Representatives Approves Bipartisan Bitcoin Bill CoinJournal

Coin World Report:
The “Bitcoin Rights Bill” has been passed by a bipartisan majority of 176 to 26 in the Pennsylvania House of Representatives.
The bill aims to provide regulatory clarity for the digital asset industry, including self-custody, payments, and taxation.
Pennsylvania has passed the “Bitcoin Rights Bill,” a new legislation seeking regulatory clarity for the cryptocurrency industry.
Despite the United States continuing to lag behind other countries and regions in terms of regulatory clarity for digital assets, Pennsylvania has taken a significant step towards this goal by passing House Bill 2481 in the House of Representatives.
Pennsylvania House of Representatives passes significant cryptocurrency bill
According to Fox Business, the new bill received bipartisan support in the Pennsylvania House of Representatives and was passed on Wednesday, October 23, 2024, with 176 votes in favor and 26 votes against. The bill outlines protections for Bitcoin and cryptocurrency holders, including the right to self-custody and guidelines for taxing Bitcoin transactions.
76 Democrats pass the Fox Business bill alongside Republicans
.
In the next stage, the new bill will be debated and voted on in the Pennsylvania Senate, which is led by Republicans. If passed, the final stage will be submitting it to Governor Josh Shapiro. These two steps will begin after the 2024 US presidential election in November.
Cryptocurrency is one of the topics candidates are seeking votes on in the upcoming US election, including at the presidential level.
With Donald Trump taking a cryptocurrency-friendly stance, Kamala Harris has won the votes of cryptocurrency holders. Despite cryptocurrency roundtable meetings and positive policy plans, Harris did not participate in cryptocurrency voting.
Although her campaign received significant donations from wealthy cryptocurrency owners, the most recent being a $10 million XRP donation from Ripple co-founder Chris Larsen.
Larsen called for Democrats to take a “new approach” to cryptocurrency issues.
Meanwhile, in less than two weeks, the majority of cryptocurrency holders’ predictions have declined with Trump’s voting. JD Vance,
Trump’s vice presidential candidate
, is also supportive of cryptocurrency.
It is worth noting that Pennsylvania is a battleground state that can help determine the White House race between Trump and Harris.