SEP 3 DIGEST: Proposed California Bitcoin Bill Adds New Reporting Requirements and Coinbase Expands to Singapore

The latest version of California’s “BitLicense” adds new reporting requirements to licensed businesses, Coinbase expands its services to Singapore, and more top stories for September 3.

Proposed California Bitcoin Bill Adds New Reporting Requirements

The latest version of the AB-1326 bill, dubbed ‘California’s BitLicense,’ includes a passage that would add new reporting requirements to licensed businesses beyond existing annual and quarterly financial audits.

The bill reads:

“Each licensee shall file an annual report with the commissioner, on or before the 15th day of March, providing the relevant information that the commissioner reasonably requires concerning the business and operations conducted by the licensee within the state during the preceding calendar year. Each licensee shall also make other special reports to the commissioner that may be required by the commissioner from time to time.”

Coinbase Expands to Singapore

Bitcoin users in Singapore can now purchase and sell the cryptocurrency via Coinbase. In so doing, the popular Bitcoin exchange and wallet service, with around US$106 million worth of investments in its pockets, has marked its entry into Southeast Asia.

Coinbase’s international expansion lead David Farmer said:

“Singapore represents an important market for us. […] To date, more than 15,000 people in Singapore have signed up for a

Read more ... source: Cointelegraph