California State Representative to Draft Pro-Bitcoin Legislation
In what is a monumental development for the digital asset sector within the country, California state representative Phillip Chen is reportedly set to draft pro-Bitcoin legislation. Indeed, Chen, a California Assembly member, is working with the nonprofit Proof of Workforce, according to an announcement on X (formerly Twitter).
Chen has engaged the organization to work on a “variety of Bitcoin initiatives” for the state. Moreover, the collaboration will include a “draft policy for the upcoming legislative session,” the nonprofit announced. If drafted, California would be one of many states seeking to integrate cryptocurrencies in a notable way.
𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: CA Assemblymember Phillip Chen has engaged the Nonprofit, Proof of Workforce, to work on a variety of Bitcoin Initiatives for California, including draft policy for the upcoming legislative session!! pic.twitter.com/KRDjvPkLgq
— Proof of Workforce (@workforcebtc) January 17, 2025
California Assembly Member and Nonprofit Work to Draft Pro-Bitcoin Legislation
2025 is poised to see a monumental shift take place in the United States. Specifically, the incoming administration of US President-elect Donald Trump is looking to completely revamp crypto policy in the country. Moreover, those efforts have seen a host of states emboldened to do the same.
Over the last handful of months, several of the United States have announced plans for their own Bitcoin reserve. Now, one of the most prominent could soon join them. Indeed, California Assembly member Phillip Chen is reportedly set to draft pro-Bitcoin legislation.
According to the nonprofit organization Proof of Workforce, Chen has appointed them to aid in the development of various legislative actions regarding Bitcoin. The Santa Moniva-based organization helps with education-based BTC adoption for workers, unions, pensions, and more.
“As to where and how Bitcoin and digital assets get into the trajectory of California, mush is undetermined,” Chen said 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 added. Conversely, the country is expected to take similar steps. Indeed, Trump is expected to approve the creation of a strategic Bitcoin reserve on the federal level. Specifically, it is likely to come to fruition early in his incoming second term.
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