Progress

Current status
rejected
23 Sep 2022rejected
30 Aug 2022adopted
12 May 2022under deliberation
16 Feb 2022under deliberation

Scope

Implementers
United States of America
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
DLT development
Government Branch
legislature
Government Body
parliament
Implementation Level
subnational

Timeline of events

23 Sep 2022
rejected

Rejected Digital Financial Assets Law including licensing requirements

On 23 September 2022, the Digital Financial Asset Law (Law No. 2269) was vetoed by Californian Governor Gavin Newsom. The Law would have required companies offering digital asset-related financial services to obtain a license from the Department of…

Event typelaw
Action typerejection
Government branchlegislature
Government bodyparliament
30 Aug 2022
adopted

Adopted Digital Financial Asset Law (Law No. 2269)

On 30 August 2022, the Digital Financial Asset Law (Law No. 2269) was adopted by the Californian Senate. The Law requires companies that offer digital asset-related financial services to obtain a license from the state's Department of Financial Prot…

Event typelaw
Action typeadoption
Government branchlegislature
Government bodyparliament
12 May 2022
under deliberation

Digital Financial Asset Law passed (Law No. 2269)

On 12 May 2022, the Digital Financial Asset Law (Law No. 2269) passed the Californian Senate. The law would require companies that offer crypto financial services to obtain a license from the state's Department of Financial Protection and Innovation…

Event typelaw
Action typepassage
Government branchlegislature
Government bodyparliament
16 Feb 2022
under deliberation

Digital Financial Asset Law introduced (Law No. 2269)

On 16 February 2022, the Digital Financial Asset Law (Law No. 2269) was introduced to the Californian Senate. The law would require companies that offer crypto financial services to obtain a license from the state's Department of Financial Protectio…

Event typelaw
Action typeintroduction
Government branchlegislature
Government bodyparliament