Blockchain 

Reconciling Blockchain Technology With California Consumer Privacy Act

The California Consumer Privacy Act of 2018 (CCPA), which goes into effect on Jan. 1, 2020, has signaled a new push in the United States to strengthen and broaden privacy regulations, similar to the trends seen in the European Union through the passage and implementation of the General Data Protection Regulation (GDPR). The CCPA affords covered consumers new privacy rights not otherwise enjoyed here in the U.S. Under the CCPA, an entity qualifying as a “business” must provide: Abbreviated disclosures regarding the personal information that is collected from or about…

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Ethereum 

Municipal Crypto Spreading Around the World, From California to Dubai

States, provinces and municipalities could use cryptocurrencies to fund projects and programs. Municipal cryptocurrencies — that is, cryptocurrencies launched by cities — could offer citizens a new way to invest in a certain location and even buy goods while helping governments to fund projects. Campbell Harvey from Duke University told Cointelegraph that municipal cryptocurrencies could provide a mechanism to fund certain projects. According to Harvey: “I think of it as, say, we need to build a new soccer field, given that we now have more boys and girls teams and…

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Bitcoin 

North America’s Largest Solar Bitcoin Mining Farm Coming to California

California-based mining company Plouton Mining will build North America’s largest solar-powered bitcoin mining farm, the company confirmed in a press release on June 25. Plouton, which is a subsidiary of Plouton Group Holding, says the site in Western Mojave will feature around 49 acres of solar panels generating 10-13 megawatts of electricity daily.  The location was chosen due to its high annual quota of sunlight, which averages 70%, with the company planning to enter agreements with local utilities providers to secure low-cost power for the remaining time.  “The preeminent combination…

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Bitcoin 

California Public Accounts Seek Clarity on Cryptocurrency Holdings

The California Society of Certified Public Accountants (CalCPA) is seeking clarity on cryptocurrency holdings from the Financial Accounting Standards Board (FASB), according to a recent letter obtained by Cointelegraph. In the letter, CalCPA stated that accounting for digital currencies is not adequately captured under existing United States Generally Accepted Accounting Principles (GAAP) established by the FASB, and should be generally aligned with the accounting model for a foreign currency. The organization said that many of the features and risks of cryptocurrencies are similar to those of foreign currency. The society…

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Bitcoin 

California Sentences Bitcoin Trader to 2 Years in Prison Over AML Compliance Failures

A LocalBitcoins trader who sold Bitcoin (BTC) to more than 1,000 people in the United States will serve two years in federal jail, a press release from the U.S. Attorney’s Office of the Southern District of California confirmed on April 8. Jacob Burrell Campos, a Mexican citizen, amassed more than $820,000 from Bitcoin sales on the P2P platform between 2015 and 2018. Through a combination of cash meetups, ATM transfers and MoneyGram, Burrell served traders on the site without performing anti-money laundering (AML) checks and due diligence on the source…

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Blockchain 

Facebook Announces New Blockchain Jobs at Its California HQ

Facebook’s HQ in Menlo Park, California, has opened five new positions in its blockchain department, according to listings posted today, March 29. The new jobs were posted in the company’s LinkedIn account. According to the announcements, the company is now seeking a growth product manager, product manager, data scientist, software engineer and business operations manager to join its blockchain team. The description of the positions also hints at the possible areas in which the firm may implement the technology: “The blockchain team is a startup within Facebook and we’re exploring…

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Blockchain 

Thirsty California May Be Wary of Blockchain Water Rights

Last week, Colorado lawmakers filed a bill exploring how blockchain technology could be applied to water rights management. Now, California is also studying blockchain for use in water rights management, as reported by Cointelegraph. But coming off a severe drought, which saw water restrictions throughout the state, they are facing a far different set of circumstances than Colorado, as water rights in California have always been a highly political issue. The film “Water & Power: A California Heist” examined how a handful of corporate landowners took advantage of a state-engineered…

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Bitcoin 

California Bill Would Legalize Crypto for Tax Payments From Cannabis-Related Businesses

Lawmakers in the United States state of California have introduced a bill to allow cannabis-related business to pay fees and taxes in stablecoins. The bill was introduced by the California State Assembly on Feb. 21. Assembly Bill 953 would allow the state, city and county tax offices in California to accept stablecoins — cryptocurrency pegged to a physical asset or a fiat currency — from cannabis-related companies seeking to pay their excise or cultivation taxes, with effect from Jan. 1, 2020. The bill further reads: “The bill would authorize that…

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Blockchain 

University of California Researchers Propose Blockchain System for Clinical Data

Academics from the University of California, San Francisco, have proposed a method of sharing medical data using a blockchain-based system. An article outlining their research published by international research journal Nature on Feb. 22. The researchers reportedly developed a blockchain-powered system that aims to improve the traceability and immutability of collected clinical data, and make it more trustworthy. In addition, the system aims to advance methods for reporting adverse events during research and improve medical record management. During the trial, the developers reportedly launched a web-based portal accessible to all…

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Blockchain 

California Governor Talks Blockchain and Data Privacy in State of the State Speech

The governor of California Gavin Newsom supported the development of blockchain and artificial intelligence (AI)-based products in his “State of the State” speech, local news outlet CALmatters reported on Feb. 12. In his speech delivered on Tuesday, Feb. 12, Newsom said that “California needs a comprehensive statewide strategy to uplift and upskill our workers, to ensure technological advancements in AI, blockchain, big data, are creating jobs, not destroying them, and to reform our institutions so that more workers have an ownership stake in their sweat equity.” Newsom further revealed that…

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