California's Version of New York's Infamous ‘BitLicense’ Defeated in State Legislature
Just weeks after New York officially drove several major Bitcoin businesses out of the state through regulation California chose a freer path forward for digital currency in The Golden State. The equally archaic and onerous version of its own “BitLicense” was defeated within the state’s legislature on Friday. Few things in Bitcoin’s brief history have done as much damage to the Bitcoin ecosystem as has New York State’s infamous “BitLicense” legislation. Filled with fiery hoops for hardcore New Yorker’s to jump through, it succeeded in driving several large and successful Bitcoin out of the....
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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....
As California legislature prepares to vote on the Bitcoin License bill, Electronic Frontier Foundation expresses its concerns about its impact on Bitcoin ecosystem. The State of California is all set to follow New York’s footsteps. The Golden State has drafted a new digital currency regulation along the lines of New York’s BitLicense and it will be voted upon soon. The California Bitcoin License assembly bill designated as AB 1326 was first introduced by the Assembly member Matt Dababneh. Since its introduction in the month of February last year, it has gone through multiple amendments in....
The NY state assembly needs to approve any bill or propose amendments before it can be signed into law by Governor Andrew Cuomo. A bill which would have required miners in New York to halt operations for three years as part of an apparent effort to slow the environmental impact of crypto has been defeated in the state legislature.New York Senate Bill 6486 failed to pass the state assembly today after lawmakers in the Democrat-controlled state senate approved the legislation earlier this week. The bill was aimed at establishing “a moratorium on the operation of cryptocurrency mining....
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....
The state of California has officially ceased further plans to adopt cryptocurrency legislation this year. The lawmakers attempting to create their own form of the New York BitLicense with Bill AB-1326. The legislation will remain untouched until next year, when authorities may revisit the Bill and try to introduce it again. California Lawmakers Stop....