Published on August 14th, 2015 | by bitcoin0
Bitcoin Bill Has Defendant In California Assembyman
Assemblyman Matt Dababneh, who penned California’s AB-1326 bill seeking to regulate virtual currency businesses, has defended his proposal against critics.
The language in the bill is very clear and has been negotiated with the companies that actually develop platforms in the virtual currency ecosystem.”
The Assemblyman refuted EFF’s claims, noting regulation was necessary as consumers had lost over half a billion dollars due to scams and hackings in the bitcoin space to date.
Distance from the BitLicense
Dababneh distanced his bill from New York’s BitLicense, commenting that AB-1326 was “far friendlier to innovators and the long-term future of virtual currency”.
As he continued to defend his bill against further criticism by the EFF, Dababneh concluded by saying:
“Not only has EFF never been engaged with my office, but their tactics have not altered one word of the bill language.