Is California Set to Get Its Own BitLicense?
California is set to follow New York’s lead, but the Bitcoin Foundation wants to stop the state from getting its own version of the BitLicense. The California Bitcoin License bill designated as AB1326 has undergone several changes in the assembly and senate since it was first introduced last year. It is now awaiting a second reading by Senate. Opponents of the bill, however, claim that the language of it has the potential to reduce California’s capability of supporting digital currency startups in the state. Bitcoin Foundation Education Committee chair Colin Gallagher is one opponent who....
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The ongoing debate about the role of governments in regulating digital currencies isn't going away anytime soon. While the dustup over New York's BitLicense program continues, another front has opened up in California where a member of the state assembly has introduced a bill to regulate California's digital currencies businesses. The Washington, D. C. -based Coin Center and the San Francisco-based Electronic Frontier Foundation (EFF) each have lobbied hard against the New York Department of Financial Services attempts to regulate New York businesses with its controversial BitLicense....
As California legislature prepares to vote on the Bitcoin License bill, Electronic Frontier Foundation expresses its concerns about its impact on Bitcoin ecosystem. The State of California is all set to follow New York’s footsteps. The Golden State has drafted a new digital currency regulation along the lines of New York’s BitLicense and it will be voted upon soon. The California Bitcoin License assembly bill designated as AB 1326 was first introduced by the Assembly member Matt Dababneh. Since its introduction in the month of February last year, it has gone through multiple amendments in....
A new initiative has started to battle yet another BitLicense. The California version of the license to operate or engage in business with the virtual currency. Bill AB -1326 will require participants to pay the treasury $5,000 with application. The paperwork alongside this fee requires an extensive inquiry into the business applicants background.....
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,....
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....