The amendments cross out “Money Transmission Act,” with the legislation now called “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 said in a March 30 statement.“Once passed, this legislation will guarantee nearly 40 million Californians the right to self-custody their digital assets without fear of discrimination.”Source: 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.
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.
California’s 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.
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Author / Journalist: Cointelegraph by Brayden Lindrea
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