The Leftover Bits 5/1/15: Ripple, Western Union, Lions Gate and GoCoin

Lions Gate struck a deal with GoCoin to accept Bitcoin at its online store and for branded corporate events. GoCoin CEO Steve Beauregard unveiled the partnership during his Inside Bitcoins NYC speech, and Lions Gate confirmed the arrangement to CoinDesk afterward. Lions Gate became known for going after anonymous file-sharers after Expendable 3 leaked before its release, but the company has also worked to build relationships with online audiences. The studio launched a streaming service last year and chose Snapchat as the platform to debut Robin Williams' final film trailer.

California's AB-1326 Virtual Currency bill cleared its first committee hurdle this week, passing the banking and finance panel before moving to the appropriations committee and then the full legislature. If approved, the law would require virtual currency exchanges to register with the state's financial oversight commissioner, maintain stringent solvency and know-your-customer standards, and pay a $5,000 registration fee. Inside Bitcoins offers a detailed breakdown of the proposed regulations, noting that they would be even tougher than early versions of the BitLicense framework. California is home to the country's largest Bitcoin startup ecosystem. Such rules would discourage innovation and investment in the state and hurt both the cryptocurrency industry and the broader digital economy.