The bill looking to make Bitcoin a legal currency in California is now going to the Governor
Mike Shedlock and investment adviser with Sitka Pacific Capital Management, covered the bill on his blog.
From the article:
California Bill AB-129 Lawful Money passed the California Senate on June 19, and the Assembly on June 23. The bill now awaits signing by Governor Jerry Brown.
Existing law prohibits a corporation, flexible purpose corporation, association, or individual from issuing or putting in circulation, as money, anything but the lawful money of the United States. AB-129 would repeal that provision.
Coindesk reports California’s Bill to Make Bitcoin ‘Lawful Money’ Heads to Governor.
AB-129, authored by Assembly Member Roger Dickinson, would recognize digital currencies – along with a host of other commonly-issued forms of value including points and coupons – as lawful alternatives to the US dollar. The state-backed currency would still have legal superiority, as Californian residents are not required to accept forms of lawful money.
Dickinson recently commented that the law is primarily designed to allow California consumers the ability to continue using a variety of common payment methods, and to remove penalties currently on the books for their usage.
Read the full story here
Hello MHB,
California Vs International Banking Consortium, what a farce of EPIC proportions.
Bribe money and people involved , EPIC
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)
Bitcoin Mania = Tulip Mania , Congressional panel hearings on governments sale of BitCoins, this ought to be interesting, Truly Epic
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)
Only Congress can make and issue currency. California has no authority to do so. Period.
It was signed into law
No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts. Guess they’re gonna do a work around on this part of the U.S. Constitution too.
Hello MHB,
They will do a work over, busting Bitcoins vault into tiny bits. Or Bites? Digits, Not going to be fun for participants of this fiasco.
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)
In the meantime, the majority of us in California didn’t vote in favor of a law that would make it mandatory for foods to say if they contained GMOs, and medical marijuana shops are being closed down, (in San Jose at least), only being allowed to operate in unincorporated areas for now, it appears. (I don’t smoke it but think it should be legalized.) Most people don’t even know what Bitcoins are though, (or how to get them), so that’s important.
Hello Grim,
GMOs have become a huge health concern, because of the bodies immune system being activated when GMOs are introduced. Anyone notice allergies? We have become Guinea pigs for Agro Biz. Oregon is hopefull of passing a GMO initiative. Lets hope food integrity is restored as our natural birth rite asks for.
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)