California passes bill that should help Bitcoin businesses

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:

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