$BTC

The state of Pennsylvania in the United States has created a new milestone for cryptocurrency by passing the Bitcoin Rights Bill with a vote of 176-26. House Bill No. 2481 stipulates that individuals and businesses have the right to self-custody of digital assets, operate blockchain nodes, and conduct transactions without interference from restrictive municipal regulations. The state continues to advance new legislation, proposing a strategic Bitcoin reserve.

Following the passage of the Bitcoin Rights Bill, Cabell teamed up with another Republican lawmaker, Aaron Kaufer, to introduce the Strategic Bitcoin Reserve Bill (HB 2664) on November 14. Once enacted, this legislation will allow the state treasurer to allocate 10% of the Pennsylvania General Fund, Emergency Fund, and State Investment Fund to Bitcoin and cryptocurrency-based exchange-traded products (ETPs), as explained in the legislative memorandum of the bill.