Oct. 24, 2024

HARRISBURG – Legislation that would protect the rights of Pennsylvanians to control and spend digital assets, sponsored by Rep. Mike Cabell (R-Luzerne), was passed by the House of Representatives with bipartisan support on Wednesday. House Bill 2481, also known as the Digital Assets Authorization Act, now moves to the Senate for consideration.

“More than 1.5 million Pennsylvania residents own some form of digital asset. My bill would create clear rules for using blockchain and digital assets, ensuring security and encouraging innovation. This approach will make it easier for our citizens and businesses to use and benefit from this growing form of technology,” said Cabell.

House Bill 2481 would ensure that individuals and businesses can accept digital assets, such as Bitcoin and Stablecoins, as payment for goods and services, exempt these transactions from new taxes, and keep their digital assets secure.

“By enacting this legislation, we can make the Commonwealth a friendly place for blockchain innovation and provide our citizens with the tools to engage in the digital economy safely,” Cabell added.

To view or download a broadcast-quality video of Cabell’s remarks in support of the bill, visit here.

Representative Mike Cabell
117th Legislative District
Pennsylvania House of Representatives

Media Contact: Andy Briggs
717-260-6474
abriggs@pahousegop.com
RepCabell.com / Facebook.com/RepMikeCabell
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