Meanwhile, several states are keen to be the ones charting this new territory. Pennsylvania was the first state where a strategic bitcoin reserve bill was introduced, in November, and discussions are underway in as many as 10 more states and four countries to introduce similar legislation in the coming months, according to Dennis Porter, the CEO of Satoshi Action Fund.
Porter, who worked with Capriglione on the draft bill, has also aided lawmakers in other states on bitcoin-related legislation. Oklahoma, Louisiana, Montana and Arkansas have passed laws to protect the right to mine, right to self-custody, right to run a node, and the right to peer-to-peer transactions. Satoshi Action Fund has been involved in 30 bill introductions so far, including the one in Pennsylvania.