United States of America: Digital Financial Asset Law introduced (Law No. 2269)
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Description
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 Protection and Innovation. Furthermore, the Law introduces customer service and books and records obligations for such companies.
Original sourceScope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), DLT development
Implementation Level
subnational
Government Branch
legislature
Government Body
parliament
Complete timeline of this policy change
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2022-02-16
under deliberation
2022-05-12
under deliberation
2022-08-30
adopted