SAN DIEGO — The Legislature on Tuesday approved a measure that would have the power to allow banks and other financial institutions to accept bitcoin.
The bill would allow businesses to accept bitcoins, the digital currency that has attracted millions of dollars of venture capital investment and helped create a virtual currency that is widely used on the internet.
The vote was 51-48.
Supporters said the bill was designed to make it easier for people to buy and sell virtual goods and services using digital currency, which has been used by online retailers such as eBay, Amazon and PayPal.
Supporters say it will make it more difficult for cybercriminals to steal bitcoins and that it will help fight the spread of the virus.
The measure, which also includes a $1 billion fund for the state’s cyber emergency fund, would also allow businesses in California to accept payment in bitcoin and other virtual currencies.
The Senate and Assembly have not scheduled a vote for now.
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