The authorities of the State of California may follow the example of New York and enter the analogue BitLicense - legal and regulatory framework for companies working in the field of cryptocurrency. Representatives of the Bitcoin community has expressed concern about the new law.
AB1326 The bill was originally introduced in the state Senate last year, but since then has undergone significant changes, which have alarmed representatives of the Bitcoin community
The intention to oppose the adoption of the new law have already stated in the Bitcoin Foundation. Thus, the chairman of the Committee on Education Organization Colin Gallagher calls on all concerned to sign a petition calling to prevent its adoption.
According to Gallagher, AB1326 proposed wording is too vague and leaves a lot of questions, and if the law enters into force, it could lead to a decrease in the level of support based in California kriptovalyutnyh startups.
"Unfortunately, the wording of the bill is so vague, it is not even clear which companies fall under the definition of working with virtual currency", - stated in the petition.
In addition, Gallagher reported of working with Bitcoin companies will be forced to carry the bulk of paper documentation and overcome various legal obstacles.
Also against the adoption of a new law by the Executive Director of the nonprofit organization Coincenter Jerry Brito. According to him, if in the text of the proposed bill is not amended, Coincenter will be forced to confront it.
On Coincenter site also contains the main points, alarming organization.
"Legislative Assembly of the State of California has published a new version of AB1326 bill, and this is bad news for everyone who loves technology and Bitcoin blokcheyn. In the past, we have supported the bill, but the new version is completely different from that in the drafting of which we participated. We have every reason to be seriously concerned about the relatively new language. Even worse is that the legislative session ends on August 31, and we will not have so many opportunities to discuss and make changes to the bill, "- said in the introductory part of the recording.
In particular, Coincenter concern is the lack of clarity for companies wishing to obtain a license to provide services for money transfers, as well as the concept of "company registration". The latter, according to the organization, nothing is inherently different from the license to operate in California, providing for a registration fee of $ 5,000, as well as fines of up to $ 25,000 for failure to obtain such a license.
In addition, the bill does not clearly define "business in the field of digital currency" and leaves scope for interpretation. In its current form, the bill could affect not only kriptovalyutnye exchange and provider of purses, but also with the function keys providers multipodpisi, operators of full node, miners and members of payment channels such as Lightning Network.
Also under its scope can get developers of new digital currency companies working on solutions such as sidechain and even software developers with open source.
It is noteworthy that in May of this year, the California Department of Supervision of the business announced its intention to abandon the digital currency regulation. In addition, in January 2015, California enacted a law in effect legalizing Bitcoin. Signed by the Governor of the State back in June 2014, the law cancels the Corporate Code Article 107 California, which prohibits companies and individuals involved in the turnover of money, other than the legal tender of the United States.
