Investors of the world, rejoice, for your cryptocurrency is worth something again in the state of California.
Jerry Brown, the California governor, has signed a bill allowing bitcoin and several other cryptocurrencies to be used inside the state, reversing the prohibition against them that was effective until last Saturday.
The AB 129 bill repeals a provision in the state ensuring that no currency other than US dollars are used for commerce, but as many claim, “this is an outdated law”, and “In an era of evolving payment methods, from Amazon Coins to Starbucks Stars, it is impractical to ignore the growing use of cash alternatives.”
As of last saturday, the California Department of Financial Institutions, was accusing the Bitcoin foundation of “engaging in the business of money transmission without a license or proper authorization”, but that is now a thing of the past: bitcoin is back in the game.
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