California State Representative Phillip Chen will draft pro-Bitcoin laws, a major development in the nation’s digital assets sector. Chen, an Assemblyman from California, has been working closely with Proof of Workforce. on X (formerly Twitter).
Chen engaged the group to develop a variety of Bitcoin “Initiatives” are a good term for state. In addition, this collaboration includes a “draft policy for the upcoming legislative session,” The nonprofit made an announcement. California, if it were to draft the bill, would join a long list of states that are looking for a way to incorporate cryptocurrency in an important manner.
𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆:
CA Assemblymember Phillip Chen has brought in the nonprofit Proof of Workforce for a number of Bitcoin Initiatives, as well as drafting a policy for the next legislative session.! pic.twitter.com/KRDjvPkLgq
— Proof of Workforce (@workforcebtc) January 17, 2025
Please Read This: Oklahoma Introduces Strategic Bitcoin Reserve Act
California Assembly member and non-profit work to draft pro-Bitcoin legislation
The United States is set to undergo a major shift in 2025. The US president-elect’s incoming administration is a prime example. Donald Trump The country is working to overhaul its crypto policies. These efforts also encouraged a number of other states to follow suit.
Over the past couple of months, several US states have revealed plans for their Bitcoin reserve. The most prominent of them could join soon. According to reports, California Assemblyman Phillip Chen will draft pro-Bitcoin laws.
Please Read This: Donald Trump Eyes Strategic Reserve for Coins Like Solana, XRP
Chen, according to Proof of Workforce nonprofit organization, has asked them to assist in developing various legislative measures regarding Bitcoin. Santa Moniva-based nonprofit organization, Proof of Workforce, helps workers, pensions and unions adopt BTC through education.
“As to where and how Bitcoin and digital assets get into the trajectory of California, mush is undetermined,” Chen says in an announcement. “What is certain is that this industry is growing in adoption every day, with Bitcoin service as a global network and asset, representing $2 trillion in value.”
“Therefore, it’s important we take a meaningful look into its role in our great state of California,” Chen continued. In the opposite direction, it is also expected that China will take similar measures. Trump will likely approve the federal creation of a Bitcoin strategic reserve. It is expected to happen early on in Trump’s second term.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
