http://www.coindesk.com/bitcoin-clos...ey-california/
How is "lawful money" defined in this legislation and how does it relate to 12 USC 411?
I'm more in favor of internet decentralized Bitcoin currency than federally sanctioned centralized fiat, still currently in its early adoption phase.Notably, the proposed law would not designate digital currencies as legal tender, rather as lawful money that may be accepted for goods and services.
Legal tender, by comparison, constitutes a federally sanctioned currency that can unquestionably be used to settle debts or obligations.
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