United States of America: Adopted Digital Financial Asset Law (Law No. 2269)
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Description
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 Protection and Innovation. Furthermore, the Law introduces customer protection measures and requires digital asset service providers to store information regarding their operational security program and provide it to the authorities upon request.
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