BTC Foundation Calls to Halt ‘California BitLicense’ OnslaughtBill AB-1326, which has become known as the ‘California BitLicense,’ passed the State Assembly and is now awaiting its Senate second reading today.
According to opponents, AB-1326’s vague language and lack of foresight could severely limit California’s ability to support cryptocurrency startups. If signed into law, businesses dealing in Bitcoin and its ilk could find themselves subject to extensive paperwork, legislative hurdles and prohibitive just to operate.
“Guess what – IT’S BACK. It’s been changed. It’s even worse than before,” Bitcoin Foundation Education Committee chair Colin Gallagher wrote on the organization’s forum today regarding the Senate reading.
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https://news.bitcoin.com/btc-foundation-california-bitlicense/
