California’s legal approach to Bitcoin looks not entirely supportive as a prominent member of its Senate attempts to ban its use for certain transactions.
A bill currently going through the State Senate related to charitable organizations specifically mentions Bitcoin and cryptocurrency.
On the somewhat obscure topic of sales of raffle tickets, Senator Tony Mendoza explicitly included the language that these “shall not be sold in exchange for Bitcoin or any other cryptocurrency.”
The unexpected inclusion has not yet received further attention but is likely an unwelcome stage in a state where hard-and-fast crypto regulation has still not arrived.
Nonetheless, Bitcoin has been gaining a steady foothold in some market sectors in both California and neighboring Oregon, notably in the medicinal cannabis industry.
This month has, meanwhile, seen legislative noises from several US states. These include Hawaii, where a current bill states that Bitcoin “has broad benefits” for the local economy, and North Dakota, where lawmakers are opting for a wait-and-see approach.
California previously advocated a New York style licensing scheme for cryptocurrency businesses, but the idea was scrapped in 2015 after the former attracted considerable negative attention and huge costs.