Using cryptocurrency for political donations has been a hot topic in many societies. Two recent developments demonstrate different views on the matter. A Taiwanese politician who has accepted bitcoin from his supporters believes crypto donations can help keep his country’s political system clean and transparent. At the same time, the California campaign watchdog says cryptocurrency can raise questions about transparency and is hard to track.
A number of blockchain-focused bills have been making the rounds in California’s State government. Elected officials are working to have them signed by Governor Jerry Brown.
News out of California concerning blockchain and cryptocurrency has been intriguing over the last few months, to say the least.
In mid-August, a U.S. Federal Court permitted a defendant to pay bail with Bitcoin.
In April, a firm made headlines after purchasing a cryptocurrency tracking application developed by a 16-year old girl in India.
It is evident that residents and businesses in the state are expressing interest in blockchain and different virtual currencies. Legislators certainly have taken note.
The California Legislature has passed Assembly Bill 2658, which provides a legal framework for the recognition of blockchain technology in the state’s insurance code. Introduced by Democrat Ian Calderon, the bill sought to amend Sections 1624.5, 1633.2, and 1633.75 of the Civil Code, Section 25612.5 of the Corporations Code, Section 16.5 of the Government Code, and Section
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Back in July, news.Bitcoin.com reported on the cryptocurrency-backed USD lending platform, Blockfi, which raised $ 52.5m from investors in an investment round led by Michael Novogratz’s Galaxy Digital. On Monday, Blockfi announced the firm is now servicing residents from California and the latest expansion leads to the crypto-lending service being available in 44 states.
A US Federal Court in California has allowed a defendant to pay his bail fees in Bitcoin, local news media reported August 15 in what sources say is not a first-time use case for the cryptocurrency.
Attorney: Objective Is ‘Compliance’
According to Palo Alto-based Daily Post, this week a federal judge allowed Martin Marsich, who faced charges of hacking into a local video game company, to pay his $ 750,000 bail in “Bitcoin or any cryptocurrency.”
Modern agriculture is an over $ 5 trillion industry that faces more unique obstacles than ever before. Climate change and jurisdictional regulations continue to challenge farmers, who are tasked with meeting the nutritional needs of an ever-growing world population with fewer and fewer land resources. Traditional agricultural techniques alone can no longer accommodate world demand, while catastrophic weather events can wipe out an entire region’s crops, driving up costs globally.