May. 28, 2025
By Rep. Torren Ecker (R-Adams/Cumberland)
Blockchain technology and digital assets are rapidly reshaping economics, ownership and data security. Today, more than 1.5 million Pennsylvanians own cryptocurrencies, such as Bitcoin or Ethereum, demonstrating their growing significance in our daily lives. Despite this widespread adoption, Pennsylvania lacks clear regulatory guidelines necessary for blockchain innovation to flourish.
Without defined rules, Pennsylvania risks falling behind other states and countries actively supporting blockchain development. Ambiguity in current regulations hampers entrepreneurs, developers and investors from fully embracing blockchain's potential. Consumers, too, remain vulnerable, uncertain about their rights and protections. Investors hesitate to commit resources amid this regulatory uncertainty, which stalls economic growth and innovation.
To address this challenge head-on, I am introducing the Blockchain Basics Act in Pennsylvania. The legislation establishes clear guidelines for blockchain technology – databases that maintain an ever-growing list of records, called blocks – and cryptocurrency activities, helping to foster innovation, protect consumers and maintain our state’s competitive edge. This bill mirrors the federal Financial Innovation and Technology (FIT21) Act, which gained bipartisan support in the U.S. House last year before stalling in the Senate.
The Blockchain Basics Act ensures practical benefits for both citizens and businesses. It would explicitly enable individuals and businesses to accept digital assets as payment for goods and services, securely store digital assets and participate freely in blockchain activities without needing special licenses. This clarity and accessibility will empower Pennsylvanians to safely and confidently engage in the digital economy.
By establishing clear regulatory standards, Pennsylvania can attract investment, encourage innovation and position itself as a global leader in blockchain technology. Businesses and innovators thrive in environments with predictable and fair regulations. Pennsylvania has a unique opportunity to set a nationwide example by proactively addressing regulatory uncertainty.
Now is the time to act decisively. With the Blockchain Basics Act, we can provide the certainty that the crypto industry and our citizens need. Let's ensure Pennsylvania remains at the forefront of technological advancement and economic growth, securing prosperity for our residents and businesses.
Representative Torren Ecker
193rd Legislative District
Pennsylvania House of Representatives
Media Contact: Greg Gross
717.260.6374
ggross@pahousegop.com
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