In what is a monumental development for the digital asset sector in the country, California state representative Phillip Chen is reportedly set to draft pro-Bitcoin legislation. In fact, Chen, a member of the California Assembly, works with the nonprofit organization Proof of Workforce, according to an announcement on X (formerly Twitter).
Chen has engaged the organization to work with a “bunch of Bitcoin initiative’ for the state. Additionally, the collaboration will include a “draft policy for the upcoming legislative session,” the nonprofit announced. If drafted, California would be one of many states trying to integrate cryptocurrencies in a notable way.
𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆:
CA Assemblyman Phillip Chen has engaged the Nonprofit, Proof of Workforce, to work on a variety of Bitcoin initiatives for California, including a draft policy for the upcoming legislative session!! pic.twitter.com/KRDjvPkLgq
— Proof of Workforce (@workforcebtc) 17 January 2025
California assemblyman and nonprofit working to draft pro-Bitcoin legislation
2025 is poised to see a monumental shift take place in the United States. Specifically, the incoming administration of the President-elect of the United States Donald Trump looking to completely revamp the crypto policy in the country. Moreover, these efforts have seen a host of states emboldened to do the same.
Over the past handful of months, several of the United States have announced plans for their own Bitcoin reserve. Now one of the most prominent may soon join them. In fact, California Assemblyman Phillip Chen is reportedly drafting pro-Bitcoin legislation.
Read also: Donald Trump sees strategic reserve for coins like Solana, XRP
“As for where and how Bitcoin and digital assets enter California’s orbit, mush is undetermined,” Chen said in an announcement. “What is certain is that this industry is growing in adoption every day, with Bitcoin serving as a global network and asset, representing $2 trillion in value.”
“That’s why it’s important that we take a meaningful look at its role in our great state of California,” Chen added. Conversely, the country is expected to take similar measures. In fact, Trump is expected to approve the creation of a strategic Bitcoin reserve at the federal level. Specifically, it will likely come true early in his upcoming second term.
