California Legislators – Protecting Consumer Privacy and Opposing Bitcoin Bill
Privacy is one of the major topics of concern for everyday consumers these days. Especially as far as online data is concerned, there doesn’t seem to be any form of privacy left. But in California, that situation is about to change. Law enforcement agencies will need to obtain a legal warrant if they intend to snoop at somebody’s online data, including email accounts. Regulation and legislation are two of the least favorite terms in the minds of mainstream consumers these days. But sometimes, a positive form of legislation comes to the surface, as is the case in California. Government....
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On August 30, legislators of the California State Assembly passed a bill on Digital Financial Asset Law. The bill, dubbed AB 2269, reached to Gavin Newsom, Governor of California, for final approval without a single objection by assembly members. The proposed notion required crypto companies to achieve a regulatory license from the Department of Financial […]
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....
Digital currency enthusiasts have been openly voicing out their concerns regarding the bitcoin regulation bill in the state of California. According to the Electronic Frontier Foundation (EFF), the bill is premature and technically inaccurate. "Virtual currencies are still developing, and this bill threatens to both stunt the growth of this innovative industry and hamper the enthusiasm driving consumer interest. Also, privacy and free speech are central issues in the virtual currency space, which the bill fails to adequately consider," the EFF's filing indicated. California Bitcoin....
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 is set to follow New York’s lead, but the Bitcoin Foundation wants to stop the state from getting its own version of the BitLicense. The California Bitcoin License bill designated as AB1326 has undergone several changes in the assembly and senate since it was first introduced last year. It is now awaiting a second reading by Senate. Opponents of the bill, however, claim that the language of it has the potential to reduce California’s capability of supporting digital currency startups in the state. Bitcoin Foundation Education Committee chair Colin Gallagher is one opponent who....