On February 27, 2015, California Assemblyman Matt Dababneh, chairman of the state's Banking and Finance Committee, introduced Assembly Bill 1326, which would prohibit a person from engaging in California in the business of "virtual currency" without a license from the California Department of Business Oversight, unless such person otherwise qualifies for one of a limited number of exemptions. The Department of Business Oversight is the state agency that regulates a variety of financial services, products, and professionals, including money transmitters.

To read more, please see Elsa Broeker's article on Digital Currency Council.