California to Get Its Own Version of 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....
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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....
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.....
A revised version of New York's BitLicense, the document behind the regulation of all cryptocurrency delving companies has emerged from the shadows, and this time things are a little different. Following a 90-day commentary period in which companies such as Amazon and Walmart made their voices and opinions regarding the BitLicense clear, the document went into hiding where it could lick its wounds and heal itself up for the next round. Now that round has finally arrived, and the revised version is here to make its presence known. Several anticipated changes have been made, including....
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....
BitLicense has been there on the news for a while now and recently the outgoing superintendent of New York State Department of Financial Services (NYSDFS) announced the final version of the BitLicense. By finalizing the BitLicense after almost a year of deliberations and amendments, NY became the first State in the United States to regulate cryptocurrency based businesses. Once the BitLicense regulations come into effect in full force, any Bitcoin or digital currency related business wishing to set shop in the State of New York would have to gain approval from the NYSDFS after meeting all....