Tuesday, September 2, 2014
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Governor recognizes use of bitcoins in California

By
July 01, 2014 |

SACRAMENTO — Gov. Jerry Brown has signed a bill into law that recognizes bitcoins and other virtual currencies in California.

Brown announced over the weekend that he had signed AB129 by Assemblyman Roger Dickinson.

Dickinson, a Democrat from Sacramento, said his bill repeals an outdated restriction on using anything but the lawful currency of the U.S. He says people already routinely use digital currency, coupons, so-called community currency and reward points programs such as Amazon Coins and Starbucks Stars without legal penalty.

Community currencies rely on local merchants who agree to accept the alternative currency, usually as a way of encouraging customers to visit small businesses.

Dickinson noted that many of those currency alternatives predate Bitcoin, a digital currency that has recently gained media attention.

Brown signed the bill without comment.

 

The Associated Press

The Associated Press

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Discussion | 3 comments

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  • BobJuly 01, 2014 - 6:37 am

    And the dumb just get dumber. If it's illegal it's really easy to pass a state law making a federal law useless? How does that work? Anything like the ongoing war on drugs?

    Reply | Report abusive comment
  • Mr.RJuly 01, 2014 - 9:38 am

    Am I wrong in assuming that only the federal government has the right to print a regulate currency?

    Reply | Report abusive comment
  • John AndersonJuly 01, 2014 - 10:04 am

    Well...the way the "Federal" Reserve is going, ALL of our money is rapidly becoming "virtual currency"

    Reply | Report abusive comment
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