#DennisPorter

[unpluggedfinancial]

The Rise of Bitcoin Acceptance: A New Era in Financial Innovation

Introduction

Bitcoin, the world’s first decentralized cryptocurrency, has transformed the financial landscape since its inception in 2009. Its journey from an obscure digital asset to a mainstream financial instrument is nothing short of remarkable. This blog post explores the growing acceptance of Bitcoin, highlighting key legislative developments and significant holdings, including those by the U.S. government.

Oklahoma’s Landmark Bitcoin Bill

Oklahoma has made a landmark move by passing a bill to protect Bitcoin rights. Governor Kevin Stitt signed the bill into law on May 13, 2024. Championed by Representative Samuel Brian Hill and Senator Coleman, the legislation establishes key protections for Bitcoin and digital asset holders. Effective November 1, 2024, it ensures fundamental rights for individuals and businesses engaged in digital asset activities, positioning Oklahoma as a leader in the digital economy.

Dennis Porter, CEO and co-founder of the Satoshi Action Fund, highlighted the importance of state-level initiatives, stating, “Americans should wake up to the incredible political opportunity that is available at the state level. Throughout history, multiple movements and industries have utilized the states to deliver powerful victories for their cause. Now, Satoshi Action is poised to put the Bitcoin and digital asset ecosystem onto the same trajectory.”

Key Provisions of the Bill

The bill guarantees the right to self-custody, allowing individuals to securely hold their digital assets. It permits using Bitcoin and other digital currencies for transactions without additional taxes, aligning digital assets with traditional legal tender regarding tax treatment. This aims to streamline the use of cryptocurrencies in everyday transactions and foster a more inclusive financial environment.

Bitcoin Mining Protections

The bill supports Bitcoin mining by protecting the right to mine Bitcoin at home and through commercial operations. Oklahoma hopes to attract more blockchain businesses and investments by ensuring legal clarity and stability. The legislation prevents local governments from imposing restrictive measures specifically targeting mining activities, such as additional noise ordinances, while still adhering to general noise regulations.

Porter emphasized Oklahoma's stance: “Oklahoma has now placed its flag in the ground to show the world that they will protect the right for Bitcoiners to access the technology.”

The bill also stipulates that the Oklahoma Corporation Commission cannot create discriminatory rate schedules for mining companies, ensuring fair utility rates and encouraging sustainable and economically viable mining practices.

Advocacy and Future Impact

Dennis Porter and the Satoshi Action Fund were instrumental in advocating for the bill. They emphasize the importance of self-custody and the right to mine, arguing that these rights are fundamental to financial sovereignty and innovation. The Oklahoma Bitcoin Association, led by Storm Rund, was crucial in passing the bill, with significant contributions from Eric Peterson, Policy Director at Satoshi Action Fund.

When the bill takes effect on November 1, 2024, it sets a precedent for other states. Oklahoma positions itself at the forefront of the digital financial revolution by ensuring legal certainty. This legislation aims to attract blockchain businesses, drive innovation, and create economic opportunities, especially in rural areas. Oklahoma's proactive approach will likely inspire similar measures nationwide, solidifying its role as a leader in digital asset regulation.

U.S. Senate’s Resolution on SEC Crypto Rule

In a significant move on the federal level, the U.S. Senate passed a resolution on May 16, 2024, calling for the Securities and Exchange Commission (SEC) to strike down a rule affecting financial institutions dealing with crypto firms. The resolution nullifies the SEC’s Staff Accounting Bulletin No. 121, which required banks to keep customers’ digital assets on their balance sheets, with capital maintained against them. This rule had been widely criticized for stifling innovation.

“The tally, a stunning 60 ‘Yeas’ in the Senate vote, sends a strong signal that both houses of Congress, across the political divide, clearly disapprove of this rule,” said the crypto advocacy group Blockchain Association.

Despite President Joe Biden's stated intention to veto the resolution to "protect investors in crypto-asset markets and to safeguard the broader financial system," the strong bipartisan support reflects growing political awareness and support for the crypto industry.

Conclusion

The recent legislative developments in Oklahoma and the U.S. Senate's resolution mark significant milestones in Bitcoin's journey towards broader acceptance and regulatory clarity. As Oklahoma leads with protective measures for Bitcoin rights and mining, and as federal lawmakers push back against restrictive SEC rules, the future looks promising for the integration and growth of digital assets in the mainstream economy. These steps not only encourage innovation and investment but also set a precedent for other states and countries to follow in embracing the digital financial revolution.

[paulpingminho]

[seasoflife]

Dennisport, Massachusetts

Peter Batchelder

seasoflife

[paroliro]

Check out this listing I just added to my Poshmark closet: Unisex Nautical 12 X 16 Carry Bag Boats Ships Ticking Vintage Fabrics Hand Made

[antikmedia]

4293 E Dennisport Ave, Gilbert from MLS Videos on Vimeo.

[anthrofreshtodeath]

Thanks for the info! I’m excited and fitting as much as I can cos there’s so much history and cool spots. Yes - already booked Fenway and the library is defo on my list! Will also be going to Maine for two days and possibly try to go to Cape Cod for one cos might as well! Any recs for this places??

My only advice for Maine is to enjoy the coast and eat an entire lobster (my family is from Maine, about twenty minutes from the border). Get good clam chowder with real clams in it. Visit some lighthouses! Same for the cape. See P-Town if you’re going that far up, and if you’re near Dennisport, eat at The Dog House. The food is phenomenal.

[joembpro]

Sometimes the back of the building is better than the front. #architecture #builtenvironment #architecturephotography #modernlandscapes #greekrevival #dennis #dennisport #capecod #capecodinsta #capecodinstagram #capelife #capecodphotographer #capecodphotography #visitcapecod #igcapecod #artuphoto (at Dennis Port, Massachusetts) https://www.instagram.com/p/CeU8v7GOy2K/?igshid=NGJjMDIxMWI=

[yohomeboijuliusc]

continued: the Disinterested Gentlemen Live @ Chapin's Fish & Chips and Beach Bar in Cape Cod, MA! Cape Cod is full of life! This was some of the best gigs I've had the opportunity to film! Filmed by: @homeboiphotography Band: @thedisinterestedgentlemen Artist: John Dillon @disinterestedgentleman Drummer: Ryan J. Clary @thisisryanjohn Keys: George Spalt @gmspalt Be sure to check out Disinterested Gentleman's original music on your favorite streaming platforms, such as Spotify! His original music is amazing! . . . #thedisinterestedgentlemen #disinterestedgentleman #thisisRyanJohn #gmspalt #HomeboiPhotography #ChapinsFishAndChips #BeachBar #CapeCod #Dennisport #MA #Massachusetts #Bands #LiveMusic #LiveBands #PerformingBands #Artists #LiveMusic #LiveMusicians #Livemusicshows #livemusicartists #originalmusic #musiccovers (at Cape Cod, Massachussets) https://www.instagram.com/p/CVMwkaHg4eB/?utm_medium=tumblr

[paulpingminho]

[sunandsandsetsmefree]

Views on the Cape!

[paroliro]

Check out this listing I just added to my Poshmark closet: Unisex Nautical 9 X 12 Carry Bag Boats Ships Ticking Vintage Fabrics H…

[flynnie821]

Having a day at the beach, with this crew #DownTheCape #Dennisport (at Sea Street Beach) https://www.instagram.com/p/CCcKXT5lOaWePgEC5yD8NFdOa02HVPwvzSYS5w0/?igshid=19649fyr81upv

[eileenpowersmfa]

I saw this woman walking from the beach in #Dennisport a few days ago. I parked my car and ran after her. When I caught up to her I quickly realized she was from eastern Europe and didn’t speak any English. I communicated with gestures and got to take this one shot. Patriotism takes many forms, I try to practice patience and tolerance; my reward is the connections I make with so many different kinds of Americans 🇺🇸 I love my country. #portraitphotography #capecod #portraiture #summer☀️ #summeronthecape #beachculture 🏖 (at Dennis Port, Massachusetts) https://www.instagram.com/p/B051UGPHJ5p/?igshid=n9t3cinlzxe2

[joembpro]

The #moon is in the #pink. So. We will be in the pink. We have to carry on doing what is #necessary. The sooner we get everyone #onboard with the #plan, the sooner we can get back out there. . . . . . . . . . . #staysafe #socialdistancing #capecod #capecodlife #capecodinsta #capecodigers #capecodlife #capecodtoday #capecodigers #capecodtimes #capecodphotography #photography #nikon #d750 #nikonnofilter #bassriver #dennisport #beach #coadt #saltlife #fishing #fisherman #dunset #moonrise #pinkmoon (at Yarmouth, Massachusetts) https://www.instagram.com/p/B-viSjXnt8B/?igshid=18a5t1fnkri65