The 39th Governor of California Jerry Brown has officially signed Assembly Bill 129, the measure that sought to grant bitcoin and other digital currencies ‘legal money’ status, into law, Reuters reports.
AB-129, which first received approval in the California Assembly earlier this February, sought to update a California law under which alternative forms of value such as rewards points, coupons and digital currencies were technically being used in violation of the law.
However, as noted by Roger Dickinson, the California assemblymember who introduced the bill, AB-129 does not regulate bitcoin in California, a matter that will be left up to other authorities.
In an interview with CoinDesk in March, Dickinson summed up the intent of the bill, saying:
“We’re trying to say that to the extent that alternative currencies are developed and in use, we will consider that to be a legally acceptable activity in California.”
With AB-129 now law, California bitcoin enthusiasts will need to wait for a forthcoming decision from the California Department of Business Oversight (DBO), which issued a warning on digital currencies in April.
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- ^ issued a warning on digital currencies (www.coindesk.com)
- ^ interview with Dickinson (www.coindesk.com)
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