Key Points
- The bill guarantees the right to self-custody for 40 million residents.
- Discrimination against Bitcoin use will be prohibited.
In a historical move for the industry, California officially included Bitcoin Rights protections in its newly proposed digital asset bill.
The crypto industry maintains optimism for the future, amidst rising global Bitcoin adoption.
Self-Custody Rights, Guaranteed for 40 Million California Residents
Satoshi Act Fund’s CEO, Dennis Porter, announced via X on March 29, that the Bitcoin Rights has been officially introduced in the California Assembly by the Chair of Banking and Finance, Assemblyman Valencia.
Once the bill passes, 40 million Americans will have their right to self-custody protected. The bill also creates legal frameworks for how to manage “unclaimed property” for digital assets, something that the Satoshi Act Fund fully endorses.
Key Points of the Bitcoin Rights Bill
The bill delivers the following:
- Critical regulatory clarity
- Explicit recognition of self-custody
- A framework for handling unclaimed digital assets
- Proper safeguarding by licensed custodians of unclaimed digital assets
- Expanding the scope of the Political Reform Act of 1974
- Strengthening government integrity
The expansion of the scope of the Political Reform Act of 1974 will prohibit a public official from issuing, sponsoring, or promoting a digital asset, security, or commodity.
Dennis Porter stated that California often sets the national blueprint for policy, and if Bitcoin Rights passes in the region, it can pass anywhere. He also said that innovative technologies have to remain accessible to individuals.
We are proud to officially announce that ‘Bitcoin Rights’ has been introduced in the California Assembly by the Chair of Banking and Finance – Assemblyman Valencia.
Once passed, nearly 40 million Americans will have their right to self-custody protected!
The bill also creates… pic.twitter.com/zvLwCM46je
— Satoshi Action Fund (@SatoshiActFund) March 29, 2025
As the US is making significant moves forward towards Bitcoin adoption and protection of BTC and crypto rights, institutional interest in the industry continues to grow at a rapid pace.
Institutional Interest in Bitcoin on the Rise
Just recently, MARA Bitcoin miner announced a public offering of $2 billion to buy more BTC. The announcement comes after the company revealed that in 2024 alone, it injected the US economy with $2 billion obtained from Bitcoin mining.
Apart from MARA, the Bitcoin-centric company Strategy is also continuing its moves to acquire more BTC, launching new product offerings, after beginning its acquisition strategy in August 2020.
The US is on the verge of codifying into law Trump’s Executive Order on Bitcoin and crypto, which will have the US buying 1 million BTC over the next five years, and preventing their sale, regardless of the upcoming administrations.
Considering the important meeting between two Bitcoin supporters, the US President, Trump, and El Salvador’s President, Nayib Bukele, next month, and the upcoming QE in the US, the industry can expect bullish times ahead.
Today, Bitcoin is trading above $83,000, rebounding after a dip to $81,000 levels on March 29.
