California's new crypto license bill would prohibit the use of stablecoins unless they are issued by a bank. thesamreynolds reports.
California Gov. Gavin Newsom is set to sign a recently passed bill that would require digital asset exchanges and other crypto companies to obtain a license to operate in the state.New York’s BitLicense regulation
“While the newness of cryptocurrency is part of what makes investing exciting, it also makes it riskier for consumers because cryptocurrency businesses are not adequately regulated and do not have to follow many of the same rules that apply to everyone else,” Assembly Member Timothy Grayson , the bill’s sponsor, said in a prior statement.
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