California to introduce bill on Blockchain and Crypto-Currency

California lawmakers introduced a new bill on the legalization of contracts, signatures and transactions using Blockchain technology.

After the bill is signed by the Governor of California, Jerry Brown and transferred to the meeting, the bill on Blockchain will come into force. It is aimed at block storage of data, which will be recorded using Blockchain technology. Even now, the government has the right to suspend the licenses of any technology company that does not comply with the rules of using Blockchain.

The bill also says that people who carry out interstate and foreign trade using Blockchain technology, that is through Bitcoin, Litecoin, Ethereum, Ripple and other crypto-currencies, must have the rights to protect their personal data in Blockchain.

Allan Hickens, a lawyer of a well-known firm at New York University, says:

"It's good that in the United States of America they accept changes in a positive way and are building the right rules for using Blockchain technology, instead of showing cowardice, as others are doing."

What other states have?

California will be, at the moment, the last state to implement crypto-regulation in the United States. Other states, such as Florida and Arizona, have already passed a law that allows you to regulate the crypto currency.

Author: Andrey, analyst Freedman Club Crypto News

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