The cogs and gears of democracy have shown their ability to delay the approval of a necessary bill yet again. Although it had many detractors, and the debate raged for over a year, there is still no agreement as to the implementation of AB-1326 in California. The bill will not be sent back to the state’s legislature again this year, and will instead have to wait until next year. Nevertheless many still doubt that it will pass in its current form, due to the vocal opposition of entrepreneurs, experts and enthusiasts in the digital currency arena.

The History of California’s ‘Bitcoin Bill’

The controversial bill was introduced on February 27th, 2015 and has been amended twice in the assembly and three times in the senate until it was recently tossed out for the remainder of 2016. This shows how rocky the road can be towards the regulation of financial instruments that are arguably still experimental. The alternative is to keep on going without regulation, a choice preferred by…

Source link