According to FOX , the state’s House of Representatives has passed a new bill called the “BTC Rights” bill.
This bill ensures people in Pennsylvania have the right to keep their own Bitcoin. It also lets them use it to pay for things if they choose. Let’s dig into what this really means and why it matters.
The ‘Bitcoin Rights’ Bill: What It Does
The new Bitcoin Rights Bill is about protecting the rights of people who use Bitcoin. Here’s what it promises:
- Self-Custody: This means people can “hold onto their own money.” With Bitcoin, self-custody lets you store your Bitcoin yourself. Instead of trusting a bank or company to keep it for you. Think of it like keeping cash in a safe at home instead of a bank.
- Using BTC for Payments: The bill also protects the right to use Bitcoin as payment. If someone wants to accept Bitcoin in their business, or if two people want to trade BTC for goods or services, this bill has their back.
In simple words, the bill makes sure no one can stop people in Pennsylvania from using Bitcoin the way they want.
BREAKING: The state of Pennsylvania has passed ‘Bitcoin Rights’ in the House by a sweeping majority. Both Republicans and Democrats united together to pass the bill.
Pennsylvania is poised to be the most important state in the ‘24 election this bill is poised to play a role👇 pic.twitter.com/DuDV12Rgzp
— Dennis Porter (@Dennis_Porter_) October 24, 2024
Why Does This Matter and What’s Next?
This bill is a step forward for people who believe in “financial freedom.” Some people think using BTC is a way to control their own money without needing banks or other middlemen. With the Bitcoin Rights bill , Pennsylvanians have more freedom to use BTC how they choose. Also, they don’t have to worry as much about new laws or rules getting in the way.
Pennsylvania House passes the Bitcoin Rights Bill, which protects residents’ rights to self-custody #Bitcoin and use it as payment.
The bill now heads to the state Senate for approval. pic.twitter.com/h1ekRkzNyD
— TFTC (@TFTC21) October 24, 2024
Now that the House of Representatives has passed the bill. It needs to go through the Pennsylvania Senate to become a law. If the Senate gives it the green light, Pennsylvanians will officially have stronger protections for using BTC.
Disclaimer
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