California Lifts Ban on Alternative CurrenciesCategory: General News
Posted: June 30, 2014 02:23PM
A new law has recently been passed by California Governor Jerry Brown that repeals Section 107 of California’s Corporations Code. This section stated that companies or individuals were prohibited to issue money in any form other than U.S. dollars. Section 107 of California’s Corporations Code covered all alternative currencies, which included virtual currencies such as Bitcoin, Dogecoin, and others. With the ban on alternative currencies now lifted thanks to the new law, it is obvious that the California state government is looking to accommodate the growth of virtual currencies, something that companies have been racing to do in order to support as many customers as possible.