Bitcoin (And Other Alternative Currencies) Now Fully Legal in California

Good news of the sort that one hopes technological advances will
make inevitable, out of the tech-industry-heavy state of
California: Bitcoin (and other alternative currencies) are
recognized by the state of California as existing and being legal
to use.

As the language
from bill A.B. 129 reads

This bill makes clarifying changes to current law to ensure that
various forms of alternative currency such as digital
currency, points, coupons, or other objects of monetary value do
not violate the law when those methods are used for the
purchase of goods and services or the transmission of
payments. Modern methods of payment have expanded beyond the
typical cash or credit card transactions. AB 129 Page
2  Bitcoin, a digital currency (Also called
cryptocurrency), has gained massive media attention
recently as the number of businesses has expanded to accept
Bitcoins for payment….

That bill was signed into law by Gov. Jerry Brown over the
weekend, as
reported by Reuters
. From their report:

Democratic Assemblyman Roger Dickinson, the bill’s author, said
earlier this week the bill reflects the popularity of forms of
payment already in use in California like bitcoin and that even
rewards points from businesses, such as Starbucks Stars,
could technically be considered illegal without an update to
currency law in the nation’s most populous state.

Tech Times on the bill’s becoming law

Bonus Bitcoiniana: an attempt to
analyze how the markets reacted
to the Feds dumping 30,000 or
so of their confiscated ‘coin on the market last week.

from Hit & Run

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