#California lawmakers back bitcoin legislation.#

California Assemblymember Phillip Chen is drafting legislation supporting Bitcoin and seeking the help of the non-profit organization Labor for Proof to explore how Bitcoin could help the state. At this point, the legislation is still in draft form and the specific details have not yet been released. However, Assemblymember Chen's actions indicate that California is actively exploring applications of Bitcoin and hopes to utilize its potential to drive economic development within the state. This could mean that California might become the first state in the US to endorse Bitcoin and set an example for other states. Assemblymember Chen's actions also reflect the growing importance of cryptocurrency in the US, as well as the government's active exploration of blockchain technology.