Bitcoin regulation is a topic of heavy debate around the world, especially since the BitLicense requirements were made publicly available. In the United States; every individual state can draft their own Bitcoin regulatory requirements, and it looks like California will be the next place to do so.
Bitcoin Regulation To Harm Innovation?
One of the main concerns surrounding Bitcoin regulation is whether or not local requirements will be beneficial to technological innovation in the digital currency space. There will always be different opinions regarding this matter, and in California, the pending Bitcoin regulation is causing a disruption between several parties.
Bitcoin regulation in California is nothing new under the sun, as the proposed guidelines had been made available in February of this year. Whenever a new bill is proposed, it will have to go through a lengthy approval process. A major milestone was reached once the Senate Transportation and Housing Committee passed the bill in July.
Once the proposed guidelines were made available to the public, the Electronic Frontier Foundation, and Copia Institute rose to the occasion to voice their concerns regarding Californian Bitcoin regulation. Anyone in the state of