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A group of bitcoin businesses have drafted a letter to members of California's Senate Banking and Financial Institutions Committee following the state's most recent update of its proposed regulation for bitcoin and digital currencies.
Signed by BitGo, Bitnet, Blockstream, Chain, Gem, Mirror and Xapo, the letter praises the Senate for its most recent changes to AB 1326, particularly its elimination of certain redundant licensing and modification of its definition of "virtual currency business".
Perhaps most notably, however, the startups called on California to go a step further before the regulation is ultimately passed by updating certain language and removing additional burdens from early-stage industry startups.
Signed by BitGo, Bitnet, Blockstream, Chain, Gem, Mirror and Xapo, the letter praises the Senate for its most recent changes to AB 1326, particularly its elimination of certain redundant licensing and modification of its definition of "virtual currency business".
Perhaps most notably, however, the startups called on California to go a step further before the regulation is ultimately passed by updating certain language and removing additional burdens from early-stage industry startups.
Full story: http://www.coindesk.com/bitcoin-businesses-startup-rules-california/