The California Department of Business Oversight (DBO) released conflicting statements today regarding how bitcoin regulation will move forward in the most populous US state.
DBO spokesperson Tom Dresslar explained his department's decision in conversation with Bloomberg, first stating that he believed that the legislature would be best suited to draft a regulatory regime in the best interest of consumers and businesses.
However, such statements were recanted within hours.
Dresslar told CoinDesk:
Dresslar offered no additional comment on the day's events.
The update is the first since the DBO's December announcement that a meeting would be held to address the topic.
, the meeting had been delayed, prompting uncertainty as to when or if the bank and money transmitter regulator would come to a formal decision.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.