Source: Cointelegraph Original: "{title}"
A California lawmaker has just added investor protection provisions for Bitcoin and cryptocurrency in a currency transmission bill proposed in February, aimed at safeguarding the self-custody rights of nearly 40 million residents in the state.
California Assembly Bill 1052 (AB 1052) was introduced on February 20, 2025, under the name "Currency Transmission Act," but was amended on March 28 by the chair of the Banking and Finance Committee, Democrat Avelino Valencia, to include several investor protection provisions related to Bitcoin (BTC) and cryptocurrencies.
The amendment removed the name "Currency Transmission Act," and the bill is now referred to as "Digital Assets."
"California often serves as a national blueprint for policy-making; if the Bitcoin Rights Bill passes here, it can pass anywhere," said Dennis Porter, CEO of the Satoshi Action Fund, in a statement on March 30.
"Once passed, this bill will guarantee nearly 40 million Californians the right to self-custody their digital assets without fear of discrimination."
Source: Satoshi Action Fund
The bill will also recognize the use of digital financial assets as a valid and legal form of payment in private transactions and will prohibit public entities from restricting or taxing based solely on the payment method of digital assets.
Additionally, the bill will expand the scope of the 1974 California Political Reform Act, prohibiting public officials from issuing, sponsoring, or promoting digital assets, securities, or commodities.
"Public officials shall not engage in any transactions or activities related to digital assets that would create a conflict of interest with their public duties," a section of AB 1052 states.
AB 1052 is currently in the "desk procedure" stage—meaning the bill has been formally introduced and is awaiting its first reading.
According to BTC Maps, there are currently 99 businesses in California that accept Bitcoin payments.
Ripple Labs, Solana Labs, and Kraken are among the largest crypto companies headquartered in California.
On February 2, 2025, California also proposed a bill related to stablecoins, aimed at providing more clarity on collateral requirements, clearing processes, redemption and settlement mechanism requirements, and security audits for stablecoins.
According to the Bitcoin Law website, 35 states have proposed 95 Bitcoin-related bills or measures, including 36 Bitcoin reserve bills still under consideration.
The Texas Senate passed the Bitcoin Strategic Reserve Bill with a 25-5 vote on March 6, while Kentucky Governor Andy Beshear signed the Bitcoin Rights Bill into law on March 24.
Earlier this month, U.S. President Donald Trump signed an executive order to create strategic Bitcoin reserves and digital asset reserves, both of which will initially use cryptocurrencies seized in government criminal cases.
Related: Kentucky Governor Signs "Bitcoin Rights" Bill
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