News
The case marks California DFPI’s first enforcement action under the state’s Digital Financial Assets Law.
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California News
California is one of the fifty US states located on the West Coast of the country. It is the first state in the USA in terms of GDP and is popular for its climate and multinational composition of its population. California is also famous because of Silicon Valley, which is the world’s center for digital technologies, the electronic industry and scientific research. In terms of Bitcoin in California, authorities are in the process of approving California’s Bitcoin License so that it can be possible to regulate operations using cryptocurrency. Using Bitcoin in California is definitely legal. However, getting this license will have a higher cost relative to other states. In addition, because of the high density of leading technology companies, Bitcoin conferences in California are quite frequent events that host famous cryptocurrency experts and speakers.
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The bill has seen contention online, but Satoshi Action Fund’s Eric Peterson says it updates the state’s unclaimed property laws so crypto doesn’t get liquidated.
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The California State Assembly passed a bill that would allow state agencies to accept crypto for payment in a unanimous 68-0 vote, which will now head to the Senate.
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California Democrat Avelino Valencia has amended a money transmission bill to make Bitcoin and crypto rights a major focus, potentially benefitting the state’s 39.4 million residents.
14097 - Explained
California’s DFPI crypto scam tracker lets users identify scams early and helps safeguard crypto assets from fraudulent activities.
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With the pending conclusion of the criminal case, the SEC could now move forward with civil litigation after a judge signed off on staying the lawsuit in January 2021.
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California’s Department of Justice says it took down 42 crypto scam websites in 2024 that haad stolen $6.5 million from users.
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US officials have seized $31 million worth of crypto linked to a 2021 hack of Uranium Finance, a now-defunct DeFi platform on BNB Chain.
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California has the largest investment in Strategy stock with more than $150 million held in state retirement funds, says Bitcoin analyst Julian Fahrer.
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The VC firms sued in a California case were active in DAO management, much like general partners, said the court. They could face hefty lawsuits.
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A16z Crypto’s Miles Jennings posted on X that the ruling is a “huge blow” to decentralized governance.
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Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices.
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Federal Judge John A. Mendez blocked a new California law that allowed any person to sue for damages over election deepfakes.
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Gavin Newsom vetoed SB 1048, saying that “while well-intentioned,” it could place unnecessary restrictions on emerging AI companies in California.
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Lawyer Dina Blikshteyn explains that many of the AI-related bills being drafted and passed in California may have good intentions but could burden small developers.
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