California passes law favoring cryptocurrency companies

The California Assembly passed bill AB-2269 to regulate cryptocurrency transactions

The state of California recently approved the bill AB-2269, with which it intends to regulate everything related to economic activity and transactions with cryptocurrencies.

Assemblyman Tim Grayson has been in charge of submitting the bill, which is part of the regulatory framework for crypto companies in the state. In said project, crucial aspects are taken into account, such as “legal gaps and establishes regulations to recognize cryptocurrencies and their industry.”

Another issue that the project also focuses on is the granting of the corresponding licenses for digital currency transactions to Californian companies. The regulation is part of California’s push for Web3, digital innovation and development.

The project approved by the California Assembly must now be analyzed by the entity’s governor, Gavin Newson, who is an open bitcoin enthusiast. In any case, it will be necessary to wait until January 2025. Until that date arrives, crypto companies will need a permit or license from the Department of Financial Protection and Innovation, so that their activities can be considered legal.

The creation of a clear and friendly regulatory framework is one of California’s priorities, in order to provide security and support to companies in the crypto market.


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Source: bit2me

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