Amendments to California's Digital Currency Bill Favor Bitcoin Startups
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.
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