Today's Hard|Forum Post
Today's Hard|Forum Post

Thursday March 12, 2015

California Proposes Bill To Ban All Unlicensed Bitcoin Businesses

Why am I not surprised by this? To be honest, it's actually more of a shock that more states aren't trying stuff like this.

Last week CA's State Assembly announced AB 1326, a bill that would ban any unlicensed bitcoin or cryptocurrency business activity. It would "prohibit a person from engaging in this state in the business of virtual currency, as defined, in this state unless the person is licensed by the Commissioner of Business Oversight or is exempt from the licensure requirement." Banks, financial institutions, and governments would be exempted under the law, making it even harder for a startup to compete.