California’s pro-blockchain advocacy group, along side the state of California has passed two blockchain tech bills into law.
The first of the two bills was officially tabled by Senator Robert Hertzberg. Representing the 18th District of California, Robert legally presented bill SB 838. This law gives a legal framework via which firms can use distributed ledger technology (DLT) to record stocks. The law defines blockchain tech and lays down the parameters through which the law supports using the tech to records issuance and all transfers of stocks.
The second bill ( AB 2658) is the brainchild and creation of Assemblymember, Ian Calderon. Ian is a representative of the 57th District and still serves as the Assembly majority leader. The bill properly defines DLT. Furthermore, the bill serves as an update of the Uniform Electronic Transactions Act to comprehend legislative support for contracts penned electronically and contradicts the requirement for written authorization.