On October 23, the Pennsylvania House of Representatives passed HB-2481 with a significant bipartisan vote of 176 to 26. This legislation establishes a regulatory framework that protects self-custody of digital assets, allows for crypto payments, exempts digital assets from additional taxes, and affirms the right to operate a node. The bill was crafted by the Satoshi Action Fund, with co-founder Dennis Porter highlighting that support for Bitcoin crosses traditional party lines and resonates with voters who value economic freedom and digital privacy. While this is a crucial step for crypto regulation in the U.S., it still needs approval from the Pennsylvania Senate and the governor. The ongoing struggle for coherent crypto policy has led to frustrations within the industry, as U.S. regulators are seen to lag behind jurisdictions like the European Union. Recent discussions reflect concerns over digital asset classification and regulatory clarity, prompting some U.S. crypto firms to relocate to countries with more favorable regulations. The CFTC's chairman indicated that changes could be expected with the next administration, as a continued push for clarity and defined regulations remains a top priority for crypto advocacy groups.

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