Share this article
California Lawmakers Consider Barring Bitcoin from Charity Raffles
A lawmaker in California has proposed prohibiting the use of bitcoin and other digital currencies for private raffles.
By Stan Higgins
Updated Sep 11, 2021, 1:06 p.m. Published Feb 21, 2017, 5:20 p.m.
A lawmaker in California has proposed prohibiting the use of bitcoin and other digital currencies in charitable raffles held by both private and non-profit organizations.
California Senate Bill 741, submitted late last week by Senator Tony Mendoza, creates the regulatory framework for "private, nonprofit organizations" that would govern how these entities are able to hold raffles at sporting events, county fairs and other public venues.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Notably, the measure would ban bitcoin from use as payment in those sanctioned raffles.
The bill states:
"A raffle ticket shall not be sold in exchange for bitcoin or any other cryptocurrency."
The measure goes on to prohibit the use of the internet to either conduct or sell tickets for a raffle, indicating that California lawmakers want to limit such events to physical locations. While not outlined in the bill, it's possible that cybersecurity and identity issues are behind the push.
The language mirrors a bill that amended the rules for sports organizations wishing to hold a raffle. That measure, too, prohibited the use of bitcoin for this purpose. The bill cleared the state legislature and was approved by the governor's office in late 2015.
SB 741 represents the latest legislative move related to bitcoin and blockchain in recent weeks, with lawmakers in states like North Dakota, Arizona and Hawaii, all weighing in on different bills related to the tech.
Image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Lebih untuk Anda
Internet Computer climbs back to $3 as short-term momentum improves
ICP pushed above the $3 level on rising activity, holding recent gains as traders reassess near-term direction.
Yang perlu diketahui:
- ICP rose about 2.7% to roughly $3.00, reclaiming a closely watched psychological level.
- Trading activity increased during the move higher, accompanying the push through resistance near $2.95–$3.00.
- Price has since stabilized just above $3, keeping attention on whether the level can hold as near-term support.
Top Stories
