Pennsylvania Joining the United States in Proposing a Bitcoin Strategic Reserve: Implications for the Energy Industry

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On November 19, Pennsylvania Representative Mike Cabell (R-117) introduced legislation to form the Pennsylvania Bitcoin Strategic Reserve, aiming to diversify the state’s financial holdings by allocating up to 10% of its treasury reserves into Bitcoin. (See HB 2664.) This state-level initiative parallels recent action taken on the federal level, where Senator Cynthia Lummis (R-WY) introduced legislation on July 31 to create a national Bitcoin strategic reserve through the purchase of one million…
By: Steptoe & Johnson PLLC
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