What regulations are in place for Bitcoin in California?

Question

I'm looking for information on Bitcoin regulation for companies.

Since Bitcoin is commodity, if you are a company and selling bitcoins you need to have license.

What are the licenses and regulators working with them? I am interested in creating a company that sells bitcoins to consumers.

What country are you in, I'm assuming the US? Can you be more specific as to what state you want to work in? The regulatory landscape can be very different even state to state. — Murch, Jun 08 '15 at 23:44
Well, the goal to operate in the whole US, but for now - I'm in California — Leo, Jun 09 '15 at 00:16
When you say "selling bitcoins", do you mean the company would be selling bitcoins it received to another company or service? Or do you mean the company would sell bitcoins to consumers? — David Schwartz, Jun 11 '15 at 10:03
Perhaps check out What would it take to create my own Bitcoin exchange? and What is needed to make a bitcoin exchange? — Murch, Jun 12 '15 at 21:34

score 3 · Answer 1 · answered Jun 13 '15 at 18:22

There's actually a lot going on in the California state legislature regarding virtual currency regulation, and you may soon need a specific license from them (although the bill in question---AB1326---still needs to pass). You can read a little more about it here from CoinCenter.

Until that particular bill passes, it's a bit of a gray area, but it would be prudent to consider the guidance from FinCEN released two years ago.

What regulations are in place for Bitcoin in California?

1 Answers1