365Crypto
Crypto Users Get a Boost
Pennsylvania’s lawmakers just passed a bill (HB-2481) that’s great news for cryptocurrency fans. This new bill ensures people can hold and use crypto without worrying about extra taxes and gives them the right to run their own nodes, which are important for the security of blockchain networks.
Big Support, But Not Law Yet
The bill had strong support, passing with 176 votes in favor and only 26 against. However, it still needs approval from the state Senate and the Governor before it can officially become law.
Who’s Behind It?
The Satoshi Action Fund, a group that advocates for Bitcoin, helped create the bill. Co-founder Dennis Porter called it a “Bitcoin rights” bill, saying it’s great for people who care about economic freedom and privacy.
Why It Matters
While other parts of the world, like the European Union, already have clear rules for crypto, the U.S. has been slower to catch up. This has made some companies move their business to places like Japan and Singapore where the rules are more friendly to digital assets.
Looking to the Future
Paolo Ardoino, the CEO of Tether, believes things will get better for crypto in the U.S. after the 2024 election. Right now, the people in charge of making rules, like the CFTC, are having a hard time figuring out policies. But they’re hopeful that this will change soon.
Bitcoin rights: Protecting people’s ability to own and use Bitcoin freely.
Node: A device that helps keep a blockchain network running smoothly by checking transactions.
Self-custody: Storing and managing your digital assets yourself, without relying on an exchange.
