California is setting a new standard in digital asset regulation. A recently amended bill aims to strengthen the rights of Bitcoin and crypto investors and ensure self-custody of digital assets.
California, known for its leadership in technology policy, recently took a significant step to strengthen the rights of Bitcoin and crypto investors.
The bill, originally introduced as the Money Transmission Act, was revised by Avelino Valencia, a Democratic Representative and Chairman of the Banking and Finance Committee. These changes aim to secure self-custody of digital assets for California’s nearly 40 million residents. The bill, now called “Digital Assets,” could serve as a blueprint for other U.S. states.
Dennis Porter, CEO of the Satoshi Action Fund, emphasized the importance of this step: “If Bitcoin rights are passed here, they can be passed anywhere.” The bill guarantees Californians the right to self-custody their digital assets without fear of discrimination. Furthermore, the use of digital financial assets is recognized as a valid and legal form of payment in private transactions.
Public entities may not restrict or tax digital assets solely based on their use as a means of payment. Another important aspect of the bill is the expansion of the Political Reform Act of 1974. It prohibits public officials from issuing, sponsoring, or promoting digital assets, securities, or commodities. “A public official shall not engage in any transaction or action involving a digital asset that creates a conflict of interest with their public duties,” states one section of AB 1052.
The bill is currently in the “desk process” awaiting its first reading. According to data from BTC Maps, 99 merchants in California already accept Bitcoin payments. Among the largest crypto companies based in California are Ripple Labs, Solana Labs, and Kraken. In addition to this bill, another stablecoin-related bill was introduced in California on February 2, 2025, which aims to provide more clarity on stablecoin collateral requirements, liquidation processes, redemption and settlement mechanisms, and security audits.
At the state level, nearly 100 Bitcoin-related bills or measures have been introduced in the U.S. The Texas Senate passed a Strategic Bitcoin Reserve bill by a vote of 25-5 on March 6, while Kentucky Governor Andy Beshear signed a Bitcoin Rights Act into law on March 24. Earlier this month, U.S. President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Fund, both of which will initially be filled with cryptocurrencies seized in criminal cases.
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