California ‘BitLicense’ Bill Vetoed by Governor Gavin Newsom

California Governor Gavin Newsom (D) vetoed a crypto licensing and regulation bill seen as a possible West Coast version of New York’s “BitLicense” on Friday.

Assembly Bill 2269, sponsored by Assemblymember Tim Grayson (D), would have created a licensing regime for anyone hoping to facilitate crypto transactions, likening it to how money transmissions are currently overseen by the Money Transmission Act. It was one of eight bills Newsom vetoed Friday, He signed 21 other bills, addressing issues ranging from crossing signals to cybersecurity to infrastructure concerns.

Source: California ‘BitLicense’ Bill Vetoed by Governor Gavin Newsom