Bitcoin adoption at a nation-state level seems prepared for liftoff. Dennis Porter, CEO and co-founder of the Satoshi Action, an organization that helps lawmakers design and introduce bitcoin-related regulation, has recently stated that several unnamed nations would be preparing to introduce crypto-centric stockpile regulations.
On social media, Porter stated that he was in contact with more international lawmakers crafting similar initiatives. He declared:
There is more interest in bitcoin than ever before. An orange tidal wave of bitcoin bills are coming for the entire planet.
Porter also stated that one unidentified nation was accelerating this process, explaining this new development had his bullishness at an all-time high. “One nation-state is moving very fast. They want to beat others to a strategic bitcoin reserve,” he explained.
He went even further with his statements, claiming that “multiple states and countries that copy the Pennsylvania Strategic Bitcoin Reserve legislation crafted by the Satoshi Action Fund” were working in these initiatives “without a shadow of doubt.”
Porter’s work has been relevant to taking bitcoin regulation from Congress to the states, having helped state lawmakers introduce several initiatives to guarantee access to basic crypto rights, protecting them from the current crypto-hostile administration.
However, with President-Elect Trump’s victory at the polls, Porter has now shifted to advising national and international lawmakers about the best ways to introduce regulation leading to the construction of a strategic bitcoin reserve.
Recently, he open-sourced a document with the bases for achieving this purpose, allowing other countries to use this blueprint to build their own regulations. Soon after, a proposal was introduced in Brazil which, if finally passed, would enable the government to allocate up to 5% of the country’s international reserves to bitcoin, following the steps of countries like El Salvador.
Read more: Satoshi Action Fund Open-Sources Strategic Bitcoin Reserve Model, Hints at Executive Order Implementation
Read more: Brazil Introduces Bill to Establish Strategic Bitcoin Reserve
