California Bill Update Eases Burden for Bitcoin Startups
A proposed digital currency bill has been amended in the California Senate to include a provisional application process for early-stage industry services. AB-1326, if passed, would require individuals and companies offering services that involve bitcoin or other digital currencies to first obtain a license. A new draft version of the bill, was amended and re-referred to the California Senate Committee on Banking and Finance on 6th July after it passed with a 55-22 vote in the State Assembly last month. Notably, a new change to the draft text enables small-scale business concepts to receive....
Related News
A digital currency bill has been proposed and amended in the state of California, easing the burden for bitcoin startups. The initial proposal required individuals and companies offering services that involve bitcoin or other digital currencies to first obtain a license. However, this could wind up stifling innovation and being too costly for bitcoin startups. With that, the revised version enables small-scale business concepts to receive conditional approval from the state's Commission of Business Oversight under the state's Money Transmission Act. Lower Burden on Bitcoin Startups.
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 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 Bitcoin Foundation has launched a fresh appeal to stop the latest and “even worse” BitLicense-style bill from becoming law in California. California Bill ‘Worse Than Before’. Bill AB-1326, which has become known as the ‘California BitLicense,’ passed the State Assembly and is now awaiting its Senate second reading today. According to opponents,....
Various members of Switzerland’s parliament have proposed a motion to reduce the regulatory burdens of blockchain startups. This could be a significant more for the future of Bitcoin technology in the country. Regulatory guidelines burden startups active in the world of blockchain technology. Especially those companies who deal with financial....