California Gov. Jerry Brown Signs Bill Legalizing Alternative Currencies Like Bitcoin Into Law
We've been discussing a bill that's been making its rounds through the legal system in California, and as of this weekend, it's been signed into law by Governor Jerry Brown just days after the news that lawmakers in the Golden State had passed it. That bill [also referred to as AB-129]- as we've discussed previously - effectively makes it simpler for state residents to use alternative currencies by nullifying an old bill that deemed anything but the use of the United States dollar as legal. These alternative currencies include but are not limited to Starbucks Stars, Amazon Coins, and yes,....
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The 39th Governor of California Jerry Brown has officially signed Assembly Bill 129, the measure that sought to grant bitcoin and other digital currencies 'legal money' status, into law, Reuters reports. The news comes just weeks after the approval of the final amended version of the bill earlier this month through key votes in both the California Assembly and Senate. AB-129, which first received approval in the California Assembly earlier this February, sought to update a California law under which alternative forms of value such as rewards points, coupons and digital currencies were....
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....
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....
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....
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....