California Meeting Invoice 1052, or the “Digital Property Invoice” (previously the Cash Transmission Act), handed a Committee vote with bipartisan assist on April 21.
It was launched by Meeting Member and Democrat Avelino Valencia in February and amended on the finish of March.
It goals to guard cryptocurrency customers and buyers by supporting their proper to self-custody their digital belongings.
A BILL IN CALIFORNIA TO PROTECT YOUR RIGHT TO SELF-CUSTODY AND ENGAGE IN PEER-TO-PEER TRANSACTIONS PASSES OUT OF COMMITTEE UNANIMOUSLY WITH BI-PARTISAN SUPPORT!
Thanks to Chair @AsmValencia on your management and for the chance to sponsor and testify in assist. pic.twitter.com/tunUKSlPpX
— Dennis Porter (@Dennis_Porter_) April 22, 2025
Defending Crypto Customers’ Rights
AB 1052 authorizes people and companies to simply accept digital belongings as fee and deems them as legitimate and authorized in personal transactions.
It additionally prohibits public entities from limiting digital asset use or imposing particular taxes solely on crypto funds and clarifies that it is a statewide matter that applies to all cities in California.
The laws particularly addresses self-custody of cryptocurrency, stating:
“A public entity shall not prohibit, prohibit, or impose any necessities on using {hardware} or a self-hosted pockets to manage digital monetary belongings.”
It additionally prevents authorities entities from creating rules that may prohibit or impose necessities on self-custody options.
The invoice is designed to guard people’ rights to manage their very own personal keys and digital belongings with out authorities interference.
There may be nonetheless a protracted authorized path to go, nonetheless, and nothing occurs quick within the US Congress. Following the Meeting Banking and Finance Committee vote, it passes to the Meeting ground for a full vote by all Meeting members, after which on to a Senate committee, after which the complete Senate, earlier than heading to the federal government for a last yay or nay vote.
It requires a two-thirds vote for passage because it amends the Political Reform Act and makes varied technical amendments to the Code of Civil Process, Monetary Code, and Authorities Code to implement these provisions.
Strategic Bitcoin Reserve Invoice Replace
Arizona is the main state with two strategic Bitcoin reserve payments within the last phases of voting, in accordance with Bitcoin Legislation’s State Reserve Race tracker.
There have been 46 strategic Bitcoin reserve payments launched throughout 26 states, it reported. Following Arizona, laws in New Hampshire and Texas is subsequent prone to get authorized.
In the meantime, the asset itself hit a six-week excessive of $88,500 in early buying and selling in Asia on Tuesday as retailer of worth belongings proceed to draw buyers in an accelerating flight from US shares and the US greenback.
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