Schrödinger’s Bitlicense: in California, crypto license rules are murky, but a bill may change that @TheBlock__ #Legal #Regulation #California #fincen #MSB #MTL #regulation

Do California state regulators permit cryptocurrency-related businesses to operate? Depending who you ask, the answer may vary. 

Do California state regulators permit cryptocurrency-related businesses to operate? Depending who you ask, the answer may vary. 

This uncertainty infuses a series of controversies over a bill that seeks to implement a licensing program for cryptocurrency businesses in The Golden State. The proposal has been vehemently opposed by the Aquarian Advocacy Group (TAAG) as reminiscent of the notorious New York Bitlicense, while regarded by Coin Center as “the best way available to end the uncertainty in the state.”

Unlike in some U.S. states, in California, cryptocurrency firms like Coinbase currently do not need money transmitter licenses (MTLs) to conduct businesses. MTLs are usually issued on a state-by-state basis to firms that want to provide money transfer services.

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source https://www.tokentalk.co/The Block/schrdingers-bitlicense-in-california-crypto-license-rules-are-murky-but-a-bill-may-change-that-5d97bd210edc6e2328fa99b0