California Delays Formal Decision on Bitcoin Regulation
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....
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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....
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....
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....
There are bigger and more important things to worry about at the moment for the Japanese ruling party, it would seem. Reuters reports that the Liberal Democratic Party in the country has decided to not pursue the regulation of digital currency in the aftermath of the collapse of Mt. Gox, a Tokyo-based bitcoin exchange. "Basically, we concluded that we will, for now, avoid a move towards legal regulation," Takuya Hirai was quoted as saying. Hirai is a Liberal Democratic Party lawmaker who heads the internet media division of the party. A final decision as to whether or not said regulation....
The now-renamed California department responsible for the regulation of financial services will soon have more powers to supervise the cryptocurrency industry.