California Legalizes Bitcoin as an Alternative Currency

Use of the digital currency is spreading among retailers

On Saturday, bitcoin became a legal currency in the Golden State.

bitcoinsBitcoin gained legal status in California after Governor Jerry Brown signed into law legislation that repealed a prohibition on the use of any currency other than that issued by the U.S. government. The older law was not usually enforced against bitcoin, but state lawmakers introduced a bill this year to removed outdated restrictions on new currencies, ZDNet notes.

“This bill is intended to fine-tune current law to address Californians’ payment habits in the mobile and digital fields,” said California assemblyman, Roger Dickinson in a previous statement. Dickinson introduced bill AB-129, which cleared the state senate earlier this month.

While bitcoin has gained support among a growing number of retailers and has not been opposed by U.S. regulators, it has been effectively banned in China.

More Bitcoin News:

Article printed from InvestorPlace Media,

©2020 InvestorPlace Media, LLC