California Bitcoin Bill Stalled by State Senators

California’s AB-1326 bill to regulate virtual currency businesses will no longer be in effect, all thanks to one state senator.

     The controversial bill, authored by Councillor Matt Dababneh, was made an inactive document at the request of Senator Mitchell on September 9.

     According to the California government's explanation, the bill is now invalid, but it does not rule out the possibility of being reactivated in the future.

     Colin Gallagher, chairman of the Bitcoin Foundation’s Education Committee, once said of the current status of the bill:

     “While we should remain vigilant (the California Legislature will resume on January 4, 2016, and the bill may be reintroduced), this is good news worth celebrating. California should not fall victim to mistakes, and we should have the freedom to become a builder of new decentralized systems and explore new systems.”

     He continued: “If this bill is passed by the legislature and signed by the governor, it would make it illegal for any startup or user to donate virtual currency. The standard in the bill is unclear and does not take into account a variety of situations.”