Bitcoin Foundation calls to stop "California BitLicense" bill

posted almost 6 years ago
The Bitcoin Foundation has launched a fresh appeal to stop the latest and “even worse” BitLicense-style bill from becoming law in California. Bill 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.

The Foundation had previously lobbied to have the bill revised when it was last presented in September 2015. Bitcoin Foundation Education Committee chair Colin Gallagher is now calling on members and the community at large to sign a petition opposing the bill in its current form.
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