News News California introduces ’Bitcoin rights’ in amended digital assets bill

News News California introduces ’Bitcoin rights’ in amended digital assets bill - Printable Version

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News California introduces ’Bitcoin rights’ in amended digital assets bill - Team - 03-31-2025

News California introduces ’Bitcoin rights’ in amended digital assets bill

<img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NWU5ZDEtNWRhOC03MjNlLWFmYzctMGRlNTQ4NWMxMTcw.jpg"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDMvMDE5NWU5ZDEtNWRhOC03MjNlLWFmYzctMGRlNTQ4NWMxMTcw.jpg" alt="California introduces ’Bitcoin rights’ in amended digital assets bill">A Californian lawmaker has just added Bitcoin and crypto investor protections to a February-introduced money transmission bill aimed at securing crypto self-custody rights for the US state’s nearly 40 million residents.California’s Assembly Bill 1052 was introduced as the Money Transmission Act on Feb. 20, 2025, but was <a data-ct-non-breakable="null" href="https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260AB1052" rel="null" target="null" text="null" title="null">amended</a> by Democrat and Banking and Finance Committee chair Avelino Valencia on March 28 to include several Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) and crypto-related investor protections. The amendments remove the term “Money Transmission Act,” renaming the legislation to “Digital Assets.”“California often sets the national blueprint for policy, and if Bitcoin Rights passes here, it can pass anywhere,” Satoshi Action Fund CEO Dennis Porter <a data-ct-non-breakable="null" href="https://x.com/SatoshiActFund/status/1906090146333966626" rel="null" target="null" text="null" title="null">said</a> in a March 30 statement.<blockquote>“Once passed, this legislation will guarantee nearly 40 million Californians the right to self-custody their digital assets without fear of discrimination.”</blockquote><figure><img src="https://s3.cointelegraph.com/uploads/2025-03/0195ea5d-870b-73c4-bcce-b67dd22e51b3" title="" alt="California introduces ’Bitcoin rights’ in amended digital assets bill"><figcaption style="text-align: center;">Source: <a data-ct-non-breakable="null" href="https://x.com/SatoshiActFund/status/1906090146333966626" rel="null" target="null" text="null" title="null">Satoshi Action Fund</a></figcaption></figure>The bill would also deem the use of a digital financial asset as a valid and legal form of payment in private transactions and would prohibit public entities from restricting or taxing digital assets solely based on their use as payment.The bill would also expand the scope of California’s Political Reform Act of 1974 to prohibit a public official from issuing, sponsoring or promoting a digital asset, security or commodity.“A public official shall not engage in any transaction or conduct related to a digital asset that creates a conflict of interest with their public duties,” one section of the AB 1052 states.AB 1052 is now in the “desk process” — meaning the bill has been formally introduced and is awaiting its first reading.A total of 99 merchants currently <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/who-accepts-bitcoin-payments-in-2024" rel="null" target="null" text="null" title="null">accept Bitcoin payments</a> in California, BTC Maps <a data-ct-non-breakable="null" href="https://btcmap.org/" rel="null" target="null" text="null" title="null">data</a> shows.<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ripple-labs-crypto-education-nonprofit-grant" rel="null" target="null" text="null" title="null">Ripple Labs,</a> Solana Labs and Kraken are among the largest crypto firms based in California.Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-act-reserve-to-exceed-1-million-law-decoded" rel="null" target="null" text="null" title="null">New BITCOIN Act would allow US reserve to exceed 1M</a>A <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/stablecoin-market-structure-bills-done-this-year-rep-khanna" rel="null" target="null" text="null" title="null">stablecoin-related bill</a> was also <a data-ct-non-breakable="null" href="https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB97" rel="null" target="null" text="null" title="null">introduced</a> in California on Feb. 2, 2025, which aims to provide more clarity over stablecoin collateral requirements, liquidation processes, redemption and settlement mechanisms requirements and <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/what-is-a-smart-contract-security-audit-a-beginners-guide" rel="null" target="null" text="null" title="null">security audits.</a><h3>Bitcoin-related bills and measures near 100 at the US state level</h3><a data-ct-non-breakable="null" href="https://bitcoinlaws.io/" rel="null" target="null" text="null" title="null">According</a> to Bitcoin Law, 95 Bitcoin-related bills or measures have been introduced at the state level in 35 states, including 36 Bitcoin reserve bills that are still live.The Texas Senate <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/texas-senate-passes-bitcoin-strategic-reserve-bill" rel="null" target="null" text="null" title="null">passed a Bitcoin strategic reserve bil</a>l in a 25-5 vote on March 6, while Kentucky Governor Andy Beshear signed a Bitcoin Rights bill into law on March 24.Earlier this month, US President Donald Trump <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/donald-trump-signs-executive-order-strategic-bitcoin-reserve" rel="null" target="null" text="null" title="https://cointelegraph.com/news/donald-trump-signs-executive-order-strategic-bitcoin-reserve">signed an executive order</a> to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile, both of which will initially use cryptocurrency forfeited in government criminal cases.Magazine:<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-payments-undermined-centralized-stablecoins/" rel="null" target="null" text="null" title="null"> Bitcoin payments are being undermined by centralized stablecoins</a><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template>


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