California Bill Update Eases Burden for Bitcoin Startups

[Huobi-USD]

“The bill would authorize a person or entity conducting virtual currency business with less than $1,000,000 in outstanding obligations and whose business model, as determined by the commissioner, represents low or no risk to consumers to register with a $500 license fee and, if approved, receive a provisional license to conduct virtual currency business.”

Original from Coindesk news：
http://www.coindesk.com/california-bitcoin-bill-burden-startups/

What do you think of it?
How would you compare it with New York state's BitLicense?

[NewLiberty]

It is only slightly less stupid.  It should not pass.

[evenlydistributingfuture]

On the whole, it appears better than the BitLicense. I guess we'll see. Hopefully, something more like this becomes the trend rather than the BitLicense.

[NewLiberty]

On the whole, it appears better than the BitLicense. I guess we'll see. Hopefully, something more like this becomes the trend rather than the BitLicense.

The title of this post is VERY misleading.
There is NOTHING in this bill that makes running a Bitcoin Startup easier.

It is a bad bill, it should not pass.