California Bitcoin Regulation Faces Split in Opposition
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....
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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....
A proposed California law to regulate virtual currency has drawn mixed reactions from industry advocates, in stark contrast to the New York BitLicense that met united industry opposition. AB 1236 sponsored by Assemblyman Matt Dababneh requires virtual currency companies to be licensed. The measure passed the Assembly in June and awaits Senate action. The Electronic Frontier Foundation (EFF), based in San Francisco, has launched a petition opposing the measure. Coin Center, a Washington, D. C. -based group, supports the bill, calling it a cautious and well-researched approach to virtual....
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....
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....
A bitcoin industry think tank continues to be at odds with digital advocacy groups over their stance on pending legislation in California that seeks to regulate digital currencies. On Friday, Coin Center executive director Jerry Brito sought to distance his organization from the Electronic Frontier Foundation (EFF) and Copia Institute, which are opposing the law, AB-1326, on the grounds that it will harm innovation in current form. The bill, introduced in February, most recently passed the Senate Transportation and Housing Committee in July. The EFF and Copia first made their opposition....