The Blockchain Advocacy Coalition is committed to educating legislators and regulators about blockchain technology. We advocate for, sponsor and organize outreach efforts for blockchain policy from the local to federal levels.
We led the effort to pass the first two blockchain bills in California in 2018. Learn about our 2019 plans HERE. We are a coalition that focuses on achievable, high-impact advocacy work.
Improving AB 1489
Referred to as a "Bit-license Lite" AB 1489 is a complex piece of legislation that was created by the Uniform Law Commission.
This bill has been introduced in several states as an attempt to standardize virtual currency regulation. As written, it has the potential to require a significant portion of CA’s virtual currency business to obtain a state license. We have formed an action group to engage with the state and offer expertise and language suggestions to create regulation that will protect consumers without driving the blockchain industry overseas.
Supporting AB 953
The Blockchain Advocacy Coalition is proud to sponsor AB 953. AB 953 will allow cannabis companies to pay their taxes via virtual currency, specifically stablecoins.
70% of cannabis companies are currently unbanked, forcing the industry to rely on cash. Transporting large amounts of cash is a public safety issue and extremely inefficient for state and local governments to collect as tax revenue. This bill solves a significant banking issue for the state and lays the groundwork for broader statewide adoption of virtual currency.
Why we focus on California
It’s the 5th largest economy in the world and home to over half the blockchain companies in the United States. As the birthplace of Silicon Valley, the state has demonstrated an interest in having a thriving tech economy. We know that the U.S. is losing blockchain companies overseas because of confusing and overreaching regulation. California is the perfect place to change that.
There are 535 voting members of Congress. CA’s legislature has 120. While we engage with the federal government and track legislation there, it’s far faster to focus on passing groundbreaking legislation in CA where it has the largest industry impact. We have a multi-year legislative strategy to realize that goal. Interested in bringing California into the future?