Published on September 16th, 2015 | by bitcoin0
California Senator Sidelines The State’s BitCoin Bill
California’s AB-1326 bill, which attempted to regulate virtual currency businesses, is no longer active, thanks to a state senator.
The controversial bill, penned by Assemblyman Matt Dababneh, was ordered to become an inactive file at the request of Senator Mitchell on 9th September.
A controversial bill
Similar to New York’s BitLicense, which famously divided the bitcoin scene, Dababneh’s bill has also proved somewhat controversial.
In a letter to Senator Marty Block, Jerry Brito, executive director, argued the bill would “create a smart licensing regime for virtual currency businesses”.
For more information on bitcoin regulation, check out our bitcoin regulation report.