#DigitalAssetBill The Pennsylvania House of Representatives recently approved bill HB 2481, known as the "Bitcoin Rights Bill," with broad bipartisan support: 176 votes in favor and 26 against. This legislation seeks to provide regulatory clarity on digital assets in the state.

Key points of the bill:

Self-custody of digital assets: Pennsylvania residents will have the right to store and directly control their cryptocurrencies without intermediaries.

Use of Bitcoin as a means of payment: The legal possibility of using Bitcoin for business transactions within the state is recognized.

Clear tax guidelines: The bill establishes specific rules regarding the taxation of transactions with Bitcoin, providing legal certainty to users and investors.

The bill was developed in collaboration with the Bitcoin advocacy group, Satoshi Action Fund, which has worked on similar initiatives in other states. The bill is currently in the Pennsylvania Senate and, if approved, will be sent to Governor Josh Shapiro for enactment.

This measure reflects an effort by states to establish clear regulatory frameworks in the realm of digital assets, especially in light of the lack of defined federal regulation. With approximately 1.5 million residents owning some type of cryptocurrency, Pennsylvania positions itself as a relevant player in the adoption and regulation of digital assets in the United States.

Source:

CryptoSlate

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