California introduces two pro-blockchain laws

California Governor Jerry Brown

California Governor Jerry Brown has signed two blockchain bills into law.

According to a press release CoinReport received from the Blockchain Advocacy Coalition, AB 2658 by Assemblymember Ian Calderon outlines blockchain technology and updates the Uniform Electronic Transactions Act to include it.

The bill also forms a committee (with industry representation) to build the best possible regulatory framework for the state of California.

SB 838 by Sen. Robert Hertzberg also explains blockchain technology and allows for firms to record stock issuance and transfers using this technology.

“California has always been a place for innovation and opportunity, and SB 838 shows how we can use technology to increase consumer protection and help prevent cases of fraud,” said Senator Hertzberg (D-Van Nuys). “That it was signed into law is a great testament to the work being done around the state by folks like the Blockchain Advocacy Coalition to advance this rapidly growing technology.”

The Blockchain Advocacy Coalition has been working to support both bills since early spring. The coalition members have testified at half a dozen committee hearings, and met with 32 legislative offices during a blockchain education day in Sacramento. The coalition has also linked industry experts with lawmakers, and sent letters of support to the governor’s office.

The coalition director, Ally Medina, commented, “Blockchain has the potential to revolutionize many industries in the near future. It is vital that California recognizes and supports this industry as an economic driver in our state. These are common sense bills that send the message that California supports innovation and the blockchain industry- Governor Brown, Senator Hertzberg and Assemblymember Calderon have all demonstrated the forward-thinking leadership we need in Sacramento.”

Image credit – Public domain image (Source: Bio page w/ image: http://ag.ca.gov/about.php | Direct Link: https://ag.ca.gov/images/ag_brown.jpg)