The Bitcoin currency is now legal tender in California, USA. This news comes after the state governor signed a number of bills that included AB 129, which is titled Lawful Money and gives Bitcoin recognition in this US state along with other digital currencies. Some people hope other states will follow with new legislation to make digital money legal as well.
While the bill allows Bitcoin to be given real value in the US, it also protects people by making sure alternative currency doesn’t violate laws. This bill focuses on coupons, points, digital currency like Bitcoin, and other online objects of value.
However, the AB 129 bill won’t regulate Bitcoin and this will most likely be a job for other departments in government.
If you follow Bitcoin news, then you’ll know the digital currency hasn’t had good headlines of late and during 2014 it took a hammering with some banks banning the virtual currency in China. Things have improved since then, and Apple has even started to allow Bitcoin apps within their App Store. Also giving recognition was Yahoo and Google that are starting to showcase Bitcoin within their online finance websites.
Would you like to see virtual currency given more recognition? Full details on the voting for bill AB129 can be seen here on openstates.org.