Stiff Cal Bitcoin Regs

Note from the CEO:  Well here we go. Regulation is inevitable, necessary and welcomed for legitimacy BUT here come the regulators (a/k/a Lawyers) to bicker 50K ways to do it. New York has ideas and now California is introducing legislation. Hmmmmm! What will North Dakota do?

“Regulation in the Bitcoin world is a double-edged blade. On one hand, it can bring more legitimacy to cryptocurrency as a whole. Doing so may also increase Bitcoin’s appeal to mainstream consumers. On the other hand, regulation can also kill off innovation in the cryptocurrency space. The Californian version of BitLicense – called AB 1326 – has been revived, and it is looking worse than before.

About a year ago, the state of California started drafting its own Bitcoin regulation. Using the New York Bitlicense as a basis, it quickly became apparent this proposal would nip innovation in the bud. Thankfully, the AB 1326 proposal failed to pass, and numerous veto requests were recorded.”

Read Full Article at Fintechist