California legislature approves cryptocurrency regulation project

California legislature approves cryptocurrency regulation project

California legislature approves cryptocurrency regulation project

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.

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.

https ://twitter.com/BlockchainAssn/status/1564355945479684096?ref_src=twsrc%5Etfw

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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