The bill aims to protect the rights of individuals to self-custody their digital assets, affirm their ability to use Bitcoin for payments

The Pennsylvania House of Representatives has made waves in the cryptocurrency regulation arena with the passing of the ‘Bitcoin Rights’ bill, garnering “overwhelming” bipartisan support.

The bill, officially designated as House Bill 2481, secured a resounding vote of 176 to 26, with 76 Democrats and all 100 Republicans throwing their weight behind the measure.

Aimed at safeguarding the rights of individuals to self-custody their digital assets, the bill also affirms the ability to utilize Bitcoin for payments and establishes clear guidelines for the taxation of Bitcoin transactions.

Following the upcoming election, the bill will wend its way to the Republican-led Pennsylvania Senate, and if approved, it will land on the desk of Governor Josh Shapiro for final approval.

Crafted in partnership with the Satoshi Action Fund (SAF), an advocacy group dedicated to advancing Bitcoin legislation, this bill is part of a larger movement across the United States where state legislatures are stepping in to create regulatory frameworks for the crypto industry.

The SAF has been instrumental in influencing similar legislation in 20 other states, with four already enacted into law in Oklahoma, Louisiana, Montana, and Arkansas.

Highlighting BTC Vote As New Political Force In a politically charged election year, cryptocurrency regulation has emerged as a contentious issue, with both Republican and Democratic lawmakers recognizing the need for a balanced approach.

Republican state Representative Mike Cabell, the bill’s sponsor and a long-time Bitcoin investor, lauded the bipartisan nature of the bill, stating:

“In such polarizing times, it’s great to see both sides of the aisle come together to further innovation and prioritize security for Pennsylvanians who own and transact with cryptocurrency.”

Moreover, the growth of crypto ownership in Pennsylvania reflects the increasing interest in digital assets, with an estimated 1.5 million residents—about 12% of the state’s population—holding some form of cryptocurrency. This demographic is becoming increasingly influential, especially in Pennsylvania, which is recognized as a crucial battleground state in the upcoming presidential election.

Dennis Porter, founder of the Satoshi Action Fund, pointed to the bill’s strategic importance, claiming that it could significantly impact the political landscape, adding: “The Bitcoin vote represents a new, growing voter bloc actively seeking a political home.”

Despite the bill’s success, some opposition remains. The 26 votes against the measure came from members who either lacked a comprehensive understanding of blockchain technology or expressed environmental concerns related to Bitcoin mining, according to FOX.

Nevertheless, Representative Mike Cabell remains optimistic about the bill’s prospects in the Senate, emphasizing that a commitment to financial freedom should transcend party lines.

At press time, BTC was trading at $67,780, up over 2.5% in the last 24 hours.

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