California ‘BitLicense’ Dropped For Now

California ‘BitLicense’ Dropped For Now

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....


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BTC Foundation Calls to Halt ‘California BitLicense’ Onslaught

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Just weeks after New York officially drove several major Bitcoin businesses out of the state through regulation California chose a freer path forward for digital currency in The Golden State. The equally archaic and onerous version of its own “BitLicense” was defeated within the state’s legislature on Friday. Few things in Bitcoin’s brief history have done as much damage to the Bitcoin ecosystem as has New York State’s infamous “BitLicense” legislation. Filled with fiery hoops for hardcore New Yorker’s to jump through, it succeeded in driving several large and successful Bitcoin out of the....

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California has become the first state in the union to legally approve the use of Bitcoin. This is a welcome move, and we can only hope that, to paraphrase Jimmy Carter, laws like AB129 will have the inclination to spread. AB 129 repeals Section 107 of the California Corporations Code, which prohibited any corporation, association or individual from putting in circulation as money, anything but the lawful money of the United States. The new law, therefore, paves the way for, and pre-empts the possibility of anyone construing Section 107 as prohibiting the use of, Bitcoin in the state of....

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