California Crypto Self-Custody and Payments Bill Passes Committee

California Meeting Invoice 1052, or the “Digital Belongings Invoice” (previously the Cash Transmission Act), handed a Committee vote with bipartisan help on April 21.

It was launched by Meeting Member and Democrat Avelino Valencia in February and amended on the finish of March.

It aims to guard cryptocurrency customers and traders 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 help. pic.twitter.com/tunUKSlPpX

— Dennis Porter (@Dennis_Porter_) April 22, 2025

Defending Crypto Customers’ Rights

AB 1052 authorizes people and companies to just accept digital belongings as fee and deems them as legitimate and authorized in non-public transactions.

It additionally prohibits public entities from proscribing 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, limit, or impose any necessities on the usage of {hardware} or a self-hosted pockets to regulate digital monetary belongings.”

It additionally prevents authorities entities from creating rules that will limit or impose necessities on self-custody options.

The invoice is designed to guard people’ rights to regulate their very own private keys and digital belongings with out authorities interference.

There may be nonetheless an extended authorized path to go, nevertheless, and nothing occurs quick within the US Congress. Following the Meeting Banking and Finance Committee vote, it passes to the Meeting flooring 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 ultimate 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 ultimate phases of voting, according to Bitcoin Regulation’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 more likely to get accepted.

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 traders in an accelerating flight from US shares and the US greenback.