California Assemblyman Phillip Chen is drafting a set of pro-Bitcoin legislation in the state.
California Assemblyman Phillip Chen is drafting a set of pro-Bitcoin legislation in the state.
| Key Takeaways: – Assemblyman Phillip Chen is partnering with Proof of Workforce to draft pro-Bitcoin legislation for the upcoming session. – Proof of Workforce will advise on Bitcoin education, community outreach, and infrastructure development. |
The Republican legislator teamed up with Proof of Workforce, a non-profit entity in Santa Monica committed to educating workers, unions, pensions, and local governments about Bitcoin.
In partnership with each other, both would further advocate for Bitcoin-centric policies and craft a piece of legislation to advance pro-Bitcoin legislation in the upcoming legislative session.
Proof of Workforce will advise the policy team led by Chen through founder Dom Bei on Bitcoin-related education, community outreach, and infrastructure development applications.
This deal seals another agreement on the agenda set by Proof of Workforce in implementing Bitcoin into local governance. This summer, the non-profit partnered with the City of Santa Monica to create an official Bitcoin office.
If it passes, Chen’s bill would place California among a growing list of states dipping their toes into the use of cryptocurrencies in public policy. The pro-Bitcoin legislation could also spur action by other states.
With the increased prominence of Bitcoin, there has been greater support for cryptocurrencies at the national level. Under the presidency of Donald Trump, pro-crypto policies have given a boost to the financial sector, and Bitcoin reached an all-time high of more than $100,000 last year.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
