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California law removes ban on alternative currencies |
June 30, 2014
A new California law removes a ban on using currencies other than the U.S. dollar, which is intended to accommodate the growing use of alternative payment methods such as bitcoin.The law, signed by state Governor Jerry Brown on Saturday, is likely to boost confidence around bitcoin, as regulators and tax authorities worldwide examine how to handle the popular virtual currency.It repeals Section 107 of California’s Corporations Code, which prohibited companies or individuals from issuing money other than U.S. dollars, according to the bill, introduced by Assembly Member Roger Dickinson.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2449020/california-law-removes-ban-on-alternative-currencies.html#tk.rss_all
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