Promote Your Attorney Profile on Law.net - Get Found / Earn More!
Silicon Valley Company Caught Paying Employees Under 2 Dollars an Hour
Silicon Valley Company Caught Paying Employees Under 2 Dollars an Hour
‘Patent Trolls’ Losing Their Fight with Big Tech Companies
‘Patent Trolls’ Losing Their Fight with Big Tech Companies
Facebook, Mark Zuckerberg Sue Prestigious Law Firm for Fraud
Facebook, Mark Zuckerberg Sue Prestigious Law Firm for Fraud
Parents of Children Who Post Online Could be Held Responsible
Parents of Children Who Post Online Could be Held Responsible
Legal Job Listings

California Governor Signs Alternative Currencies Bill

jerry_brown

On Saturday, California Governor Jerry Brown signed a new bill into law that clears out state-level obstacles for alternative currencies, according to a report from Reuters. The new legislation helps to repeal an outdated law in the state that prohibits commerce other than United States currency.

The author of the bill is Democratic Assemblyman Roger Dickinson. Dickinson said that the bill would reflect popular forms of payment used in California, such as bitcoin, and the rewards points associated with those businesses. Dickinson said that is the law is not updated, those currencies and rewards points could be considered illegal.

The measure was approved last Monday. This occurred days after Mt. Gox received its court approval to start bankruptcy proceedings in the United States. Mt. Gox is based in Tokyo and is a bitcoin exchange. It claims it lost some 850,000 bitcoins in a hacking attack, which led to the shutdown of its website. The 850,000 bitcoins were worth more than $500 million with current prices. The company said it was able to find 200,000 bitcoins following the attack.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




In a statement obtained by the Los Angeles Times, Dickinson said, “In an era of evolving payment methods, from Amazon Coins to Starbucks Stars, it is impractical to ignore the growing use of cash alternatives.”

Governor Jerry Brown Signs Alternative Currencies Bill Into Law by

Tagged: , ,

Posted by on June 30, 2014. Filed under Tech & Science News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Associate Attorney with 3-5 years of land use or litigation experience
USA-NY-Melville

BROWN & ALTMAN LLP, a Melville, New York based law firm with growing commercial real estate / zoning / litigation practice seeks an individual with 3-5 years of land use or litigation experience. ...

Related Posts: