PANews reported on October 25 that according to FOX Business, the Pennsylvania House of Representatives passed a bipartisan bill aimed at providing regulatory clarity for digital assets. The bill was passed by a large margin of 176 to 26, including the support of 76 Democrats and all 100 Republican members. The bill allows residents to self-custody digital assets and clarifies the tax guidelines and payment usage rights for Bitcoin transactions.
The bill was drafted by the Bitcoin advocacy group Satoshi Action Fund, reflecting the trend of states pushing for the standardization of cryptocurrencies in the absence of clear federal regulation. If passed by the Senate, the bill will be submitted to Governor Shapiro for signature. In addition, 1.5 million Pennsylvania residents hold cryptocurrencies, accounting for 12% of the total population, making it an important supporter of this legislation.
