Jerry Brown, governor of California, legalized the controversial currency bitcoin
California Gov. Jerry Brown legalized the controversial currency bitcoin on Saturday.
Brown signed a bill — AB 129, named "Lawful money"— Saturday that repealed a California law banning use of anything but U.S. currency in commerce.
Backers of Brown's move said the law hadn't kept up with modern times, and that even rewards programs from some retailers, such as Starbucks Corp. (NASDAQ: SBUX) could violate the letter of the law.
"Existing law prohibits a corporation, flexible purpose corporation, association, or individual from issuing or putting in circulation, as money, anything but the lawful money of the United States," says the text of the bill.
The bill was introduced by Assemblymember Roger Dickinson (D-Sacramento).
Brown's office did not comment on the legislation, merely listing it along with other items he signed on Saturday.
Steven E.F. Brown is web editor at the San Francisco Business Times.
June 30, 2014 at 08:11AM
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