California Passes Bill to Legalize Complementary Currencies

A community without dollars is not a community without wealth – this basic insight lies at the heart of the community resilience movement. With income and wealth inequality still on the rise in our “post-recession” economy, communities are finding creative ways to meet their needs and maintain social ties through community-created forms of exchange, or complementary currencies. And, as with most social innovations, existing legal and regulatory systems take some time to catch up.

With the recent passage of the California Alternative Currencies Act, AB 129, California has taken a significant step toward fostering more just and resilient local economies.

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