The California legislature approved a bill that provides for the licensing of companies to provide crypto-financial services in the state. Document sent for Gov. Gavin Newsom's signature.
Press Release: Consumer Federation of California Sponsored Digital Asset/Cryptocurrency Licensing Bill Sent to Governor with Strong Bipartisan Support@AsmGrayson #AB2269 #CALeg pic.twitter.com/1J0mWio8xE
— Consumer Federation of California (@consumercal) August 30, 2022
Up to 30 September Newsom must either sign the bill or veto it. If approved, the document will go into effect in January 2025.
The California Digital Financial Assets Act is based on the New York State BitLicense rules introduced in 2015.
Recall that in July, against the backdrop of a market collapse, the US Federal Reserve called for tightening regulation and supervision of the crypto industry on federal level.
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