California Gov. Jerry Brown Signs Bill Legalizing Alternative Currencies Like Bitcoin Into Law
- CA. Gov. signs bill allowing alternative currencies into law
- Legally allows use of bitcoin, Starbucks Stars, et al
We’ve been discussing a bill that’s been making its rounds through the legal system in California, and as of this weekend, it’s been signed into law by Governor Jerry Brown just days after the news that lawmakers in the Golden State had passed it.
That bill [also referred to as AB-129]– as we’ve discussed previously — effectively makes it simpler for state residents to use alternative currencies by nullifying an old bill that deemed anything but the use of the United States dollar as legal.
These alternative currencies include but are not limited to Starbucks Stars, Amazon Coins, and yes, even bitcoin and other cryptographic currencies.
“In an era of evolving payment methods, from Amazon Coins to Starbucks Stars, it is impractical to ignore the growing use of cash alternatives,” said State Assemblyman Roger Dickinson in a recent statement, as pointed out by the Los Angeles Times.
And while the news is good for users of this emerging digital currency, it doesn’t quite change a whole lot in terms practical use of bitcoin, for example. The aforementioned law that prohibited the use of anything but the dollar was one of many unenforced laws in the State of California.
That is to say that anyone using bitcoin or a Starbucks Star was extremely unlikely to be legally penalized for doing so, but as the times and technology changes, many would agree having an official law on the books is nothing short of helpful.
In addition to signing AB-129 into law, Governor Brown also repealed a requirement for workers in the food industry to wear gloves, keep minor truants out of lockup facilities, and a declaration that the California red-legged frog be considered the official amphibian of the state.