California

California is a western U.S. state with a population of nearly $40 million. In September 2018, the State passed Bill 2658 which introduced legal definitions of "smart contracts" and "blockchain technology". In February 2019, the state passed bill 1489, which prohibits individuals from engaging in business activities involving virtual currencies unless they were licensed by the department of Business Oversight. Not doing so makes the individual subject to a fine of $50,000. Finally, during the same month, California introduced bill 147, which classifies individuals who buy and/or sell cryptocurrency as marketplace facilitators.  

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