California to Debate Bitcoin Regulation at December Meeting
Although home to a sizeable majority of the burgeoning bitcoin industry, California has been relatively quiet on the subject of whether it will seek to regulate digital currency businesses. However, this could soon change, according to new statements from California's Department of Business Oversight (DBO), the state's financial services and money transmitters regulator. Speaking to CoinDesk, spokesperson Tom Dresslar confirmed his agency intends to hold a meeting in mid-December that could determine if and when California will decide to clarify the actions the bitcoin industry must take....
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California's financial services and money transmitters regulator did not rule on whether it would regulate bitcoin at a scheduled December meeting. The meeting of California's Department of Business Oversight (DBO) was first revealed in early December by Bloomberg. Though details were scarce, spokesperson Tom Dresslar said at the time that the state was seeking to determine whether regulating bitcoin and digital currencies was in the best interest of consumers. Dresslar told CoinDesk that though no action was taken at the meeting, the DBO still expects to come to a decision regarding when....
Following the BitLicense framework in New York, another US state is considering implementing legislation for bitcoin legislation. According to the California Department of Business Oversight (DBO), it has decided not to exercise its authority to regulate bitcoin and digital currencies. Instead, the agency will leave this up to state legislature. However, DBO spokesperson Tom Dresslar said that they haven't finalized their decision. "We're still in the process of how or if at all to regulate virtual currency business under our current statutory scheme," he explained. California Bitcoin....
Following New York's BitLicense implementation a few months back, California is now drafting up its own bitcoin regulation as well. Not surprisingly, this drew plenty of opposition among cryptocurrency enthusiasts in the state. Interestingly enough, there is also a split among those criticizing California's bitcoin regulation. Last week, Coin Center executive director Jerry Brito tried to distance his organization from the Electronic Frontier Foundation (EFF) and the Copia Institute. California Bitcoin Regulation Debate. Back when the draft of AB-1326 was filed in the Senate Committee on....
The California Department of Business Oversight (DBO) released conflicting statements today regarding how bitcoin regulation will move forward in the most populous US state. In statements to Bloomberg, the DBO stated that it had elected not to exercise its authority to regulate bitcoin and digital currencies, instead passing this determination to the state legislature. DBO spokesperson Tom Dresslar explained his department's decision in conversation with Bloomberg, first stating that he believed that the legislature would be best suited to draft a regulatory regime in the best interest of....
What was thought by some to be a secret meeting of Bitcoin miners and Bitcoin Core developers turned out to look more like a company retreat than anything else, according to those in attendance. Although there have been some public statements of disagreement between the mining and development communities in Bitcoin, representatives from the two groups met in California over the weekend to improve communications and strengthen their business and personal relationships. “Over the last few days, some Bitcoin developers and miners got together for a social gathering to improve communication,....