California Bitcoin Regulation Bill Draws Plenty of Opposition
Digital currency enthusiasts have been openly voicing out their concerns regarding the bitcoin regulation bill in the state of California. According to the Electronic Frontier Foundation (EFF), the bill is premature and technically inaccurate. "Virtual currencies are still developing, and this bill threatens to both stunt the growth of this innovative industry and hamper the enthusiasm driving consumer interest. Also, privacy and free speech are central issues in the virtual currency space, which the bill fails to adequately consider," the EFF's filing indicated. California Bitcoin....
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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 state of California has officially ceased further plans to adopt cryptocurrency legislation this year. The lawmakers attempting to create their own form of the New York BitLicense with Bill AB-1326. The legislation will remain untouched until next year, when authorities may revisit the Bill and try to introduce it again. California Lawmakers Stop....
Assemblyman Matt Dababneh, who penned California's AB-1326 bill seeking to regulate virtual currency businesses, has defended his proposal against critics. Last week, the Electronic Frontier Foundation (EFF) said the bill, which would prohibit virtual currency businesses from operating unless licensed to do so by the Department of Business Oversight (DBO), threatened the future of digital currency experimentation and innovation in the state of California. Dababneh said in a statement: "First, EFF has little expertise in the area of financial regulation and is generally beyond its depths on....
California Assemblyman Matt Dababneh has blasted the Electronic Frontier Foundation (EFF) for spreading false information against his Bitcoin bill, AB-1326. Last week, the said Bitcoin advocacy group had called the Californian Bill "premature and technically inaccurate", saying that its significant fees and administrative hurdles would clamp down the growth of young Bitcoin startups in the state. EFF further called out for a no-regulation scenario, for it believed that the digital currency industry is still too young to be regulated. Replying to the criticism, assemblyman Dababneh called....
While members of the bitcoin and blockchain industry have been vocal in their praise for proposed regulation in California, more broadly focused digital advocacy groups are taking a surprisingly critical stance. In the latest bill analysis on AB-1326, filed on 13th July, the Electronic Frontier Foundation (EFF) and Copia Institute entered opposition arguments, a position that places them at odds with bitcoin advocacy firm Coin Center, which has called the newest version "vastly better" in interviews and published materials. The EFF's response, portions of which are now public via the....