California Governor Grants Bitcoin 'Legal Money' Status
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....
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California Assembly Bill 129, a bill that would deem digital currencies 'lawful money' in the US state, will now head to the desk of California Governor Jerry Brown where it will require final approval to become law. The announcement comes just weeks after AB-129 came before the California Senate Banking and Financial Institutions Committee, passing by a 7-1 vote. AB-129, authored by Assembly Member Roger Dickinson, would recognize digital currencies - along with a host of other commonly-issued forms of value including points and coupons - as lawful alternatives to the US dollar. The....
California Governor Gavin Newsom has signed an executive order on crypto and blockchain to create a comprehensive and harmonized framework for Web3 technology to thrive. “California is a global hub of innovation, and we’re setting up the state for success with this emerging technology,” said the governor. California’s Governor Issues Executive Order on Blockchain and Crypto The governor of the U.S. state of California, Gavin Newsom, signed an executive order Wednesday to “create a transparent and consistent business environment for companies operating in....
California Governor Gavin Newsom has vetoed a bill to regulate crypto in his state. He stressed that “a more flexible approach is needed” to “keep up with rapidly evolving technology and use cases” in the crypto sector.
Bill to Regulate Crypto in California Vetoed by Governor Newsom
The governor of the U.S. state of California, Gavin Newsom, vetoed a number of bills Friday, including Assembly Bill 2269 (AB 2269) which will establish a licensing and regulatory framework for cryptocurrency.
Assembly Bill 2269, titled “Digital financial....
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 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....