A landmark development is occurring in the field of Crypto Assets – the United States is brewing the birth of the first state-level legal framework that fully supports digital assets. The bill has been unanimously passed in the House of Representatives with a vote of (13-0 ) and is currently awaiting final approval from the Senate, which is expected to create a new landscape for crypto regulation in the United States.

The bill contains several groundbreaking provisions that provide unprecedented protection for crypto users and industry participants:

First, the bill introduces a tax exemption policy for transactions under $200, addressing the tax reporting challenges faced by small payments and removing barriers to the daily use of Crypto Assets.

Secondly, the bill clearly protects the legal status of self-custody wallets, ensuring that users have complete control over their digital assets, which is of great significance for maintaining the decentralized nature of Crypto Assets.

Thirdly, mining and staking activities are protected by law, allowing miners to operate freely within the legal framework without worrying about improper interference.

Finally, the bill also restricts local governments from setting regulations that hinder Crypto Assets payments or interfere with mining site selection, providing a more open environment for industry innovation.

This bill will not only spur a wave of Crypto Assets innovation within the state but may also trigger policy imitation across the United States, creating a more favorable regulatory environment for the development of mainstream Crypto Assets like Bitcoin and Ethereum.

As the Senate is about to vote, investors, entrepreneurs, and miners are closely watching this historic moment that could change the landscape of Crypto Assets in the United States. If passed, this state may become a new emerging hub for the American Crypto industry.