Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
âCalexitâ is now a crypto-friendly independence initiative.
A Brexit-inspired plan wants to make California its own nation, separate from the USA. The people behind the plan are now looking to establish cryptocurrencies as the financial backbone of the proposed nation.
The movement is called âYes California,â though it is more commonly known as the âCalexit movement.â The group recently appointed a Blockchain expert named Alastair Caithness to analyze how an economy based on digital assets like Bitcoin (BTC) could be used to guarantee a Universal Basic Income, or UBI, for citizens.
Caithness praised the idea of a future crypto-based economy, which he believes could âfinance a level of free healthcare, free education, and a form of basic incomeâ at a scale that has never before been seen. He went on to say that Californians âhave struggled to achieve economic libertyâ under the financial system established by the US federal government.
Scottish-national Caithness, who is residing in San Diego, also stated that people investing in land and property through crypto transactions could help boost the proposed implementation of Universal Basic Income.
Marcus Ruiz Evans, Yes Californiaâs president, is advocating for these independence measures as well. He claims that California is the âworldâs fifth-largest economy,â and praised Caithnessâ advice in adopting crypto, stating âpeople need assistance, especially right now, and the government is struggling to come up with somebody.âÂ
He continued:
âIt is also good to have a Scotsman now living in California involved in our project, as the model for a Sovereign California has been developed from the Scottish Independence Referendum.â
According to Yes California, the state government has agreed to hold a public petition into âCalexitâ this year. They claim that a possible formal voting process could take place by 2024.
Californiaâs Senate Banking and Financial Institutions Committee recently passed a bill seeking to define digital assets and measure their impact on state and consumer protections.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.