California passes law to aid Bitcoin use

California passes law to aid Bitcoin use

Canada’s landmark legal legislation this week came suddenly for the community – but it is not alone: now, a second official response has been heard in California. CNBC.com reports that Assemblyman Roger Dickinson yesterday approved an amendment to the law on accepted currencies “making it easier to use alternative currencies including Bitcoin.” The bill, AB-129, was backed 7-1 by the California Senate Banking and Financial Institutions Committee and will now move forward to review by California Governor Jerry Brown, like Dickinson a democrat, who will be able either to approve or veto its....


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California passes bill that should help Bitcoin businesses

The California State Senate and Assembly passed a bill in early September that amends the state’s Money Transmission Act. The bill was designed to modernize old laws in light of new technologies — Bitcoin was specifically mentioned — and “remove barriers to market entry to start-up payment technology companies,” said Committee on Banking and Finance Chair Roger Dickinson. Dickinson first introduced the bill in February. Here are the three things that could benefit Bitcoin companies if Gov. Brown signs it into law:

News Summary: June 29 – July 6

California repeals law, allows Bitcoin. California legislation passes a bill allowing the use of digital currencies such as Bitcoin! Saturday, Jerry Brown signed this monumental bill, lifting the previous ban on cryptocurrrencies in California. This may have also impacted Bitcoin prices, with prices know around $650, and volume transactions peaking at $50 million for 24 hours. The original law, stating that anything besides the use of US currency is prohibited was outdated, technically even making rewards points illegal. Newegg accepts Bitcoin, through partnership with Bitpay! This has....

AB 129 - California Legally Approves the Use of Bitcoin

California has become the first state in the union to legally approve the use of Bitcoin. This is a welcome move, and we can only hope that, to paraphrase Jimmy Carter, laws like AB129 will have the inclination to spread. AB 129 repeals Section 107 of the California Corporations Code, which prohibited any corporation, association or individual from putting in circulation as money, anything but the lawful money of the United States. The new law, therefore, paves the way for, and pre-empts the possibility of anyone construing Section 107 as prohibiting the use of, Bitcoin in the state of....

California State Assembly passes bill for licensing and regulating crypto firms

The bill requires digital asset exchanges and crypto companies to have a license of operation in the state of California. Lawmakers in California State Assembly 71-0 passed the Digital Financial Assets Law, also known as AB 2269, on Tuesday, Aug. 30. The bill is now in the hands of the state’s governor Gavin Newsom, who will either set it into motion or veto it completely. This bill requires digital asset exchanges and crypto companies to have an operating license given by the state of California's Department of Financial Protection and Innovation. Any operations outside of said license....

Nifty News: Coachella lifetime pass, WildEarth’s wildlife, Worms ditches NFTs...

The Worms franchise won’t be coming to the blockchain anymore, WildEarth TV has launched NFTs to support wildlife conservation and Rick Flair is set to be tokenized. The Coachella Valley Music & Arts Festival has partnered with FTX US to launch a series of NFT collectibles that includes tokenized lifetime access passes to its annual music festivals.The iconic music festival is held over two consecutive three-day weekends every April in California, and is being headlined by Harry Styles, Billy Eilish and Ye (the artist formerly known as Kanye West) in 2022. The partnership was announced on....