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International Business Times
International Business Times
Business
Marvie Basilan

In US First, Pennsylvania Lawmaker Introduces State Bitcoin Strategic Reserve Act

Bitcoin Pennsylvania Donald Trump United States Crypto Cynthia Lummis Inflation Republican Party
A poster featuring the Bitcoin logo is displayed at the Thailand Crypto Expo in Bangkok on May 14, 2022. (Credit: Lauren DeCicca/Getty Images)

KEY POINTS

  • Cabell said the proposed bill is a 'visionary step toward securing our state's financial future'
  • Pennsylvania's Legislature previously passed a pro-crypto bill that sought to provide clarity on digital assets
  • GOP Sen. Cynthia Lummis is pushing for a bill that will recognize $BTC as a national reserve asset

Pennsylvania may soon establish Bitcoin as a strategic reserve asset after Republican State Rep. Mike Cabell introduced the Pennsylvania Bitcoin Strategic Reserve Act – the first of its kind in the country.

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