Co-founder of Satoshi Action Fund, Dennis Porter, claims a Democratic lawmaker is planning to introduce a legislation that would protect the rights of Bitcoin holders in a Democratic trifecta state, known as the Bitcoin Rights Bill.
According to a post on X, the CEO of Satoshi Action Fund claims that he can confirm a Democrat lawmaker from a Democrat trifecta state is set to unveil a Bitcoin Rights Bill. If this news is proven true, then it would be the first time in history that a Democratic trifecta state will release a law that allows self-custody for Bitcoin (BTC) holders.
“This is a key move that will redefine the political movement for Bitcoin for years to come,” said Porter in his post.
Recently on Oct. 24, The Pennsylvania House of Representatives passed a bill known as the Bitcoin Rights Bill.
The bill, introduced by the non-profit Satoshi Action Fund, regulates cryptocurrency ownership and usage. It allows residents to hold self-custody over their digital assets, meaning they can hold Bitcoin and other cryptocurrencies without having to depend on third-party services like crypto exchanges.
You might also like: Pennsylvania passes bill allowing Bitcoin payments, crypto self-custody
In January, Virginia State Senate also introduced a bill that protects Bitcoin miners and ensures self-custody rights for Bitcoin holders.
Pennsylvania and Virginia are both known as a bi-partisan state. At the time of writing, there are 17 states classified as Democratic trifectas, including California, Delaware, Illinois, Hawaii, New York, and Washington amongst others.
Porter goes on to emphasize the important role Bitcoin holds as a “non-partisan technology,” especially as America gears up for its upcoming presidential election this November. He believes that both sides should recognize Bitcoin’s future potential.
BREAKING: I can confirm that for the first time in US history, a Democrat lawmaker in a Democrat trifecta state will introduce legislation to defend the rights of Bitcoiners.
This is a key move that will re-define the political movement for Bitcoin for years to come.
Bitcoin…
— Dennis Porter (@Dennis_Porter_) October 29, 2024
As crypto has been used as a major talking point by both candidates, Porter states that Bitcoin can “bridge between the political divide” between the Democrats and Republicans in order to pave the way for future innovation.
“In order for the USA to greatly benefit from Bitcoin, both sides must embrace the technology which is why the news of ‘Bitcoin Rights’ making its way through a deep blue state is so important,” said Porter.
A Digital Chamber’s survey titled “Americans’ Views on Crypto Policies and Their Effects on Voting” revealed that 16% of their respondents admitted that they would vote for a pro-crypto candidate. These voters belonged in the “Crypto Voting Bloc” which makes up an estimated 26 million voters comprised of Republicans and Democrats.
Read more: Digital Chamber Survey: 26m US voters make up the ‘crypto voting bloc’ in the 2024 presidential election
