California's Bitcoin Bill Shelved by State Senator
California's AB-1326 bill, which attempted to regulate virtual currency businesses, is no longer active, thanks to a state senator. The controversial bill, penned by Assemblyman Matt Dababneh, was ordered to become an inactive file at the request of Senator Mitchell on 9th September. According to definitions by the Californian government, the bill is now "dormant or dead" but can potentially be re-activated by its author at a later date. Colin Gallagher, chair of the Bitcoin Foundation Education Committee, commented on the bill's status: "While we should remain vigilant (the California....
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The California Senate Appropriations Committee has voted 6-1 to advance a bill that would create a licensing regime for bitcoin companies in the state. The bill moved forward on 27th August, with Senator Jim Nielsen, a Republican from California's Fourth District, casting the lone dissenting vote. The bill received a second reading on Monday, with a third reading set for a later date. AB-1326's movement through the California Senate - it passed the lower chamber in June - comes as groups supporting and opposing the measure spar over the law's wording. The bill, introduced by Assemblyman....
California's legislature has once again shelved a plan to regulate businesses in the digital currency industry. Reintroduced after nearly a year of dormancy earlier this month, Assembly Bill 1326 has now been referred back to the state's Rules Committee and Banking and Finance Committee – effectively freezing its progress. Word first emerged on Friday that the measure would be delayed, and a representative for the Banking and Finance Committee has since confirmed to CoinDesk it will not be heard in the legislature again this year. She said: "It's being delayed for this year." The....
California won’t become the second state after New York to have a “BitLicense” type of law any time soon. The lawmaker who introduced AB 1326, California Assembly member Matt Dababneh, D-Encino, has shelved it, marking the second straight year such legislation has been sidelined. After several conversations and meetings with virtual currency experts, consumer organizations, and others, he said he decided to remove AB 1326 from consideration for a vote this year, saying more time is needed to study the measure. The use of virtual currency has become more prevalent statewide, he said, but as....
The highly controversial California AB 1326, often referred to as “California’s BitLicense” has failed to pass in the Legislature. The bill, which would require Bitcoin many Bitcoin businesses operating in California to apply for a state-issued License, failed to pass before the September 11 deadline. The strict nature of the bill has led the Bitcoin community to compare it to New York’s BitLicense, which has forced many Bitcoin businesses to cut off their services to New York. The California Bitcoin bill garnered large amounts of criticism from the Bitcoin community, as well as....
California's State Assembly has approved a bill calling for digital currency companies to be regulated in a similar way to banks. Formulated by Assemblyman Matt Dababneh, chairman of California's Banking and Finance Committee, bill AB-1326 was approved following a 55-22 vote in favour. Currently undergoing review by California's Senate - having already completed the first of three readings - if passed, the bill would require digital currency businesses to obtain an annually renewable license from the Department of Business Oversight (DBO), unless they are exempt from doing so by the....