California Bill to Legalize Bitcoin

In the world of digital currency, misinformation spreads quickly, and there may be no greater recent example of this than California Assembly Bill 129, a piece of proposed legislation that has been heralded somewhat incorrectly as an already successful move by the state to "legalize cryptocurrencies". Though, the bill would recognize digital currencies as "lawful money", it would also ensure the legal footing of additional forms of legal tender such as points and coupons, and is currently only halfway to becoming law. Regardless, many in the digital currency community have high hopes that....

California is getting closer to outright legalizing Bitcoin in the state with the proposed bill clearing a committee vote yesterday. Back in September of last year, California passed AB 786, a piece of legislation that makes it easier doing in-state business for Bitcoin startups. This time, a bill dubbed as AB-129 Lawful Money, which would legalize cryptocurrencies in the state, passed the Senate Banking and Financial Institutions Committee yesterday by a 7-1 vote. Previously, the bill was unanimously approved in the California Assembly by a 75 to 0 vote. The next step for the bill will be....

A top post on /r/Bitcoin at the moment has quite the misleading title. The specific document linked is merely the latest revision of the bill with analysis from the State Assembly's Banking and Financial Institutions Committee and dates to 1/23/14. The post has caused many to mistakenly believe that either the bill has become a law or the bill has been passed and is awaiting signing to become a law. Both of which are quite untrue and reveal ignorance of political processes. While I understand that Reddit is a worldwide community without general understanding of the American legislative....

The California state legislature's effort to effectively legalize bitcoin - along side a host of other alternative stores of value - as forms of money cleared an important procedural stage on Wednesday as it moved closer to becoming law. On 4th June, the California Senate Banking and Financial Institutions Committee voted overwhelmingly in favor of AB-129, the bill authored by Assemblymember Roger Dickinson that would recognize digital currencies, points and coupons, among other US dollar alternatives, as lawful money. The 7-1 vote by the committee means the bill will move to the Senate....

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....