cryptocurrency The issue of regulatory clarity in the markets is one of the most important problems and makes things difficult. Particularly in the USA, state-based solutions are being worked on for this problem, which still cannot be solved at the Federal level. Today, the Pennsylvania House of Representatives passed a bill that brings clarity to overcome local problems and reassure crypto investors.
Cryptocurrency Law
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$66,872 The bill, drafted by the advocacy group Satoshi Action Fund, was passed with bipartisan support. While all 100 Republican members supported the bill, which was accepted by an overwhelming majority of 176 votes to 26, 76 Democrats raised their hands on the bill. Crypto communities are struggling to get the clarity bills passed into law in Oklahoma, Louisiana, Montana and Arkansas to be approved by all States.
Republican State Representative Mike Cabell said;
“In such polarizing times, it is great to see both sides of the aisle coming together to advance innovation and prioritize security for Pennsylvanians who own and transact cryptocurrency.”
Now residents of the State crypto- will be able to legally hold funds in self-custody wallets, will accept Bitcoin as payment and will take into account clear guidelines on taxing transactions. This will enable institutions to go beyond interpretation and do their job according to existing rules.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
