{"id":126122,"date":"2025-03-31T05:18:27","date_gmt":"2025-03-31T05:18:27","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126122"},"modified":"2025-03-31T05:18:27","modified_gmt":"2025-03-31T05:18:27","slug":"california-introduces-bitcoin-rights-in-amended-digital-assets-bill","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126122","title":{"rendered":"California introduces \u2019Bitcoin rights\u2019 in amended digital assets bill"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA 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\u2019s nearly 40 million residents.<br \/>\nCalifornia\u2019s Assembly Bill 1052 was introduced as the Money Transmission Act on Feb. 20, 2025, but was amended by Democrat and Banking and Finance Committee chair Avelino Valencia on March 28 to include several Bitcoin (BTC) and crypto-related investor protections.<br \/>\nThe amendments cross out \u201cMoney Transmission Act,\u201d with the legislation now called \u201cDigital assets.\u201d<br \/>\n\u201cCalifornia often sets the national blueprint for policy, and if Bitcoin Rights passes here, it can pass anywhere,\u201d Satoshi Action Fund CEO Dennis Porter said in a March 30 statement.<br \/>\n\u201cOnce passed, this legislation will guarantee nearly 40 million Californians the right to self-custody their digital assets without fear of discrimination.\u201d<br \/>\nSource: Satoshi Action FundThe 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.<br \/>\nThe bill would also expand the scope of California\u2019s Political Reform Act of 1974 to prohibit a public official from issuing, sponsoring or promoting a digital asset, security or commodity.<br \/>\n\u201cA 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,\u201d one section of the AB 1052 states.<br \/>\nAB 1052 is now in the \u201cdesk process\u201d \u2014 meaning the bill has been formally introduced and is awaiting its first reading.<br \/>\nA total of 99 merchants currently accept Bitcoin payments in California, BTC Maps data shows.<br \/>\nRipple Labs, Solana Labs and Kraken are among the largest crypto firms based in California.<br \/>\nRelated: New BITCOIN Act would allow US reserve to exceed 1M<br \/>\nA stablecoin-related bill was also introduced in California on Feb. 2, 2025, which aims to provide more clarity over stablecoin collateral requirements, liquidation processes, redemption and settlement mechanisms requirements and security audits.<br \/>\nBitcoin-related bills and measures near 100 at the US state level<br \/>\nAccording 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.<br \/>\nThe Texas Senate passed a Bitcoin strategic reserve bill in a 25-5 vote on March 6, while Kentucky Governor Andy Beshear signed a Bitcoin Rights bill into law on March 24.<br \/>\nEarlier this month, US President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile, both of which will initially use cryptocurrency forfeited in government criminal cases.<br \/>\nMagazine: Bitcoin payments are being undermined by centralized stablecoins<a href=\"https:\/\/cointelegraph.com\/news\/california-introduces-bitcoin-rights-amended-money-transmission-bill?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA 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\u2019s nearly&hellip; 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