California delays plans to regulate bitcoin businesses

Rage Comment : AB1326 stands for Assembly Bill 1326, a digital currency regulation bill proposed by California in 2015, which has been controversial ever since. The bill was adjusted this month, but the latest news shows that the bill will be shelved again at least this year, and it is not certain whether it will be restarted next year. The US legislative process is cumbersome and complicated, and legislation in the field of blockchain and digital currency is a difficult problem for all countries. Therefore, there is a lot of uncertainty about the specific implementation time of the relevant legislation.

Translation: Annie_Xu

The California legislature has once again shelved plans to regulate companies in the digital currency space.

Earlier this month, Assembly Bill 1326 (AB1326), which had been shelved for nearly a year, was reintroduced and submitted to the California Rules Committee and the Banking and Finance Committee to terminate the bill's implementation.

The proposal to postpone the bill was first mentioned on the 12th of this month, after which representatives of the Banking and Finance Committee confirmed that the bill would not be introduced again in the legislature this year.

"The implementation of the bill will be delayed this year."

The move would further prolong an already lengthy implementation process for the bill, which was first introduced in 2015 and followed months of debate among industry representatives, state lawmakers and technology advocacy groups.

However, statements from representatives of the relevant legislative bodies indicate that the bill will be revived, at least in some form, during next year's legislative session.

Mark Farouk

Mark Farouk, a spokesman for the Banking and Finance Committee, said that the bill will not be implemented this year and that its content will be greatly changed. Farouk reportedly said that the Uniform Law Commission is studying digital currency legislation, which will affect the implementation of AB1326.

“I think a lot of things will be revised in the future”.

The Banking and Finance Committee did not specify whether it would revive the bill in 2017.