Bill passed for regulating crypto firms

California State Assembly passes bill for licensing 

and regulating crypto firms. The bill requires digital

asset exchanges and crypto companies to have

a license of operation in the state of California.

Lawmakers in California State Assembly 71-0 

passed the Digital Financial Assets Law, also known as AB 2269,

 on Tuesday, Aug. 30. The bill is now in the hands of the

state’s governor Gavin Newsom, who will either set

it into motion or veto it completely. It would would come 

into effect on and after Jan. 1, 2025. If not followed, 

perpetrators could receive a civil penalty of 

civil penalty up to $100,000 for each day of violation.

Bill passed for regulating crypto firms

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