JUN 4 DIGEST: California Approves Bitcoin Bill; Kim Dotcom Beats the US in Court
The state of California has approved a bill to regulate digital currency businesses, Kim Dotcom’s wins court decision against US authorities, BlockTrail Acquires SendChat, and more news
The state of California has approved a bill to regulate digital currency businesses, Kim Dotcom’s wins court decision against US authorities, BlockTrail Acquires SendChat, and more top stories for June 4.
Bitcoin Regulation Bill Approved by Californian State Assembly
The State Assembly of California has approved a bill that would regulate how digital currency companies operate within the state.
Bill AB-1326 was approved with a 55-22 vote in favor. The legislation was crafted by Assemblyman Matt Dababneh, chairman of California's Banking and Finance Committee, reported Coindesk.
“Currently undergoing review by California's Senate – having already completed the first of three readings – if passed, the bill would require digital currency businesses to obtain an annually renewable license from the Department of Business Oversight (DBO), unless they are exempt from doing so by the agency.”
Kim Dotcom wins court decision preventing the US gov’t from seizing his property
Kim Dotcom, best known for the MegaUpload scandal, has received a temporary reprieve after a New Zealand court ruled that the US government could not go ahead with its plans to seize his property worth US$67m.
“The application of the fugitive disentitlement doctrine to a person who is exercising a bi-laterally recognized right to defend an eligibility hearing, with the result that he is deprived of the financial means to mount that defens