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.
A Californian lawmaker has just added Bitcoin and crypto investor protections to a February-introduced money transmission bill aimed at securing crypto self-custody rights for the US state’s nearly 40 million residents.
California’s Assembly Bill 1052 was introduced as the Money Transmission Act on Feb. 20, 2025, but was amended by Democrat and Banking and Finance Committee chair Avelino Valencia on March 28 to include several Bitcoin (BTC) and crypto-related investor protections.
The amendments cross out “Money Transmission Act,” with the legislation now called “Digital assets.”
