California Lawmaker Introduces Draconian Bill to Ban Unlicensed Bitcoin Business
Just when the things were looking right for Bitcoin in the State of California, a new draconian bill jumped in to step on the silver platter. Proposed by Californian Assembly Member Matt Dababneh, the Bill AB 1326 proposes an enduring law that could ban unlicensed Bitcoin businesses in the state. The real trouble however lies in the fact that the bill never categorizes the kind of businesses that come under the newly proposed law. So in case one wants to, say, build a new Bitcoin-based feature, he/she would be required to obtain a license from the Commissioner of Business Oversight after....
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California won’t become the second state after New York to have a “BitLicense” type of law any time soon. The lawmaker who introduced AB 1326, California Assembly member Matt Dababneh, D-Encino, has shelved it, marking the second straight year such legislation has been sidelined. After several conversations and meetings with virtual currency experts, consumer organizations, and others, he said he decided to remove AB 1326 from consideration for a vote this year, saying more time is needed to study the measure. The use of virtual currency has become more prevalent statewide, he said, but as....
Politicians seeking to represent California at the state or federal level have made proposals seemingly favorable to crypto adoption. California State Senator Sydney Kamlager, representing the 30th Senate District, which includes parts of downtown Los Angeles, has introduced a bill that would amend the state’s code to allow for the acceptance of cryptocurrencies for certain payments.According to Senate Bill 1275 introduced in the California Legislature on Feb. 18, Kamlager proposed authorizing a state agency “to accept cryptocurrency as a method of payment for the provision of government....
The State of California has passed legislation that should make it easier for bitcoin startups to do business in the state. AB 786, passed in the house last week, amends the California Money Transmission Act with some key provisions. The state's original Money Transmission Act (MTA) classified certain companies doing business in California as money transmitters, imposing stringent requirements on them before they could do business in the state. This legislation is enforced by the Department of Business Oversight (DBO), part of which until July 1 was known as the Department of Financial....
A U.S. congressman has introduced the “Keep Your Coins Act” in order to “preserve Americans’ right to privacy in transacting with crypto assets.” The lawmaker says, “this legislation would prohibit any federal agency from promulgating a rule that would impair a person’s ability to act as self-custodian.”
US Lawmaker Seeks to Protect Privacy in Crypto Transactions With ‘Keep Your Coins Act’
The office of Congressman Warren Davidson (OH-R) announced Thursday that the lawmaker has introduced the Keep Your....
A bill has been introduced in Canada to encourage the growth of the crypto sector. “Canada should be attracting billions of dollars in investment in the fast growing crypto asset industry. Today I introduced a bill, the first of its kind in Canada, to make sure this becomes a reality,” said the parliament member who introduced the bill.
Bill to Grow Crypto Sector Launched in Canada
Canadian parliament member Michelle Rempel Garner introduced “Bill C-249” on Wednesday, which “may be cited as the Encouraging the Growth of the Cryptoasset Sector....