EFF Opposes California Digital Currency Regulatory Bill
The California Legislature’s AB-1326, which would require “virtual currency businesses” to obtain a license to offer services in California, “is so vague that it’s unclear what companies are, in fact, ‘virtual currency businesses,’” which “threatens the future of virtual currency…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
experimentation and innovation in the state,” said Electronic Frontier Foundation Activism Director Rainey Reitman in a blog post Friday. EFF has been working to get changes it feels will improve the bill but the likelihood that the measure will move forward in the coming weeks means “the time for conversation is over,” she said. EFF is now “urging concerned Californians to speak out against this legislation by calling, emailing, and tweeting at their state elected officials immediately,” Reitman said. EFF believes the bill is premature because the digital currency market is “in its infancy” and that attempting to regulate digital currency services at the state level will create confusion, she said. The office of Assembly Banking and Finance Committee Chairman Matt Dababneh, a Democrat who sponsored AB-1326, didn't comment.