California residents: some good news for you this Tuesday morning. It would appear that lawmakers in California have approved a specific measure that would make the use of bitcoin and other alternative currencies simpler in the Golden State.
That’s according to CNBC, who adds that the bill will effectively repeal what is considered to be an outdated law that bans business be done with anything other than the United States dollar.
But if you thought it was cryptocurrencies at the focus of the bill passage, you’re wrong. It also covers other major payment methods, such as using store points, for example.
“In an era of evolving payment methods, from Amazon coins to Starbucks Stars, it is impractical to ignore the growing use of cash alternatives,” he adds.
Despite the fact the law banning anything but the use of U.S. dollars was on the book, it wasn’t quite enforced, as evidenced by the widespread methods of payments individuals carry out.
Still, the update now makes it clear that if you’re going to be using bitcoin, airline miles, or reward points at your local coffee shop, you’re in the clear.