Schrödinger’s Bitlicense: in California, crypto license rules are murky, but a bill may change that
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Quick Take
- Crypto firms can currently operate in California without money transmitter licenses, but a bill up for consideration by the California State Assembly may change that
- The bill would impose a license requirement on firms that conduct cryptocurrency-related business with California residents
- Some believe that the bill adds unnecessary burdens to crypto businesses, which can already operate in California without a license, while others think it provides much-needed regulatory clarity
Do California state regulators permit cryptocurrency-related businesses to operate? Depending who you ask, the answer may vary. This uncertainty infuses a series of controversies over a bill that seeks to implement a licensing program for cryptocurrency businesses in The Golden State. The proposal has been vehemently opposed by the Aquarian Advocacy Group (TAAG) as reminiscent […]
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