Schrödinger’s Bitlicense: in California, crypto license rules are murky, but a bill may change that

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 […]

Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.

You can unlock at any time.*
No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.
*a 2% locking fee will be added at the time of locking.