California Bitcoin Bill Dies in the Legislature

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Bitcoin is the pioneer and most popular cryptocurrency in the world; others include Ripple, Litecoin, Monero and so on. The bill AB-1326 to regulate cryptocurrencies in California was approved by a vote of 55 to 22 in favor of the bill. Mining of digital currency, as well as transactions with multiple signatures, does not require TOMA AB 2658 (2018, pending) would recognize the legality of “smart contracts,” as well as private ownership to personal information stored on a blockchain. AB 1326 (2016, defeated) and AB 1123 (2018, defeated) would have required altcoin businesses to secure a license to operate from the Commissioner of Business Oversight. AB-1326 is Not BitLicense. The lawmaker also rubbished EFF for equating AB-1326 with BitLicense, which is considered as one of the most stiffest Bitcoin bill today. In his statement, he called AB-1326 a friendlier bill than its New York counterpart, saying that their bill, unlike BitLicense, has exempted backend software companies from AB 1326 has gone through the CA Senate Second Reading and Third Reading, and has been referred to the CA Senate Banking and Financial... Tracking Bitcoin Regulation State by State. As of right now, California’s bill, AB 1326, has a very well tailored definition of virtual currency businesses: only those companies who either (a) have full custody of customer funds, or (b) are exchanges—something we recently proposed. This ensures that a developer merely releasing software

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