Whilebitcoin use is now legal in California, it is not technically legal tender, a status reserved for and defined federally as 鈥淯nited States coins and currency鈥?under the Coinage Act of 1965.
People also ask
Is California going to legalize bitcoin?
California political advisors are drafting a bill that would make Bitcoin legal tender. The news comes close on the heels of previously reported Arizona and the Island of Tonga expressing similar intentions to legalize the king coin. It looks like the California bill is going to disrupt the legal tender race once again.
Is buying and selling Bitcoin legal in the United States?
Is buying and selling Bitcoin legal in the United States? In many states, it鈥檚 perfectly legal to buy Bitcoin.
Which states are adopting bitcoin as legal currency?
These efforts mark the latest push by states to adopt Bitcoin in some way. Last week Colorado announced it will accept Bitcoin for state taxes and fees this June. Last month, an Arizona state Republican introduced a bill to accept Bitcoin as legal tender.
Who regulates Bitcoin and cryptocurrency exchanges in California?
Who Regulates the Bitcoin Exchanges in California? Bitcoin and cryptocurrency exchanges in California are regulated on the state level by the State Assembly, which has passed a number of bills relating to cryptocurrencies and digital assets.