29 Jun '14, 10am

California governor signs bill legalizing bitcoin

California governor signs bill legalizing bitcoin

In an era of evolving payment methods, from Amazon Coins to Starbucks Stars, it is impractical to ignore the growing use of cash alternatives ,” Democratic Assemblyman Roger Dickinson, the bill's author, said in an earlier statement. Another type of a newly emerged payment system that the amendment is meant to apply to are the so-called "community currencies"; these are created by members of a local area to boost small business. Besides, as the explanation to the new legislation reads, they have “also become a form of political protest as some communities that use such currency do so in protest of US monetary policies, or large financial institutions. ” California makes the use of digital currencies easier as the world’s largest bitcoin exchange Mt. Gox Co., is going through bankruptcy procedures in the US. Earlier this year, the exchange lost around 850,000 bitcoins ($500...

Full article: http://rt.com/usa/169164-california-bitcoin-bill-signed/

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