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    You are at:Home»Tech»Crypto & Blockchain»California’s lower house passes crypto payments bill
    Crypto & Blockchain

    California’s lower house passes crypto payments bill

    newsworldaiBy newsworldaiJune 4, 2025No Comments3 Mins Read0 Views
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    California’s lower house passes crypto payments bill
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    California has taken a step towards embracing Crypto, after which state departments have been allowed to accept digital currencies going to the state’s Lower House with a unanimous vote and are now heading to the Senate.

    https://www.tiqets.com/en/new-york-new-york-hotel-casino-tickets-l235895/?partner=travelpayouts.com&tq_campaign=bc55a31e7f434e4ab93246c49-615741

    The Assembly Bill 1180 (AB 1180), which approved the California state assembly on June 2 with a vote of 68-0, on June 2, the Department of Financial Protection and Innovation (DFPI), under the Digital Financial Asset Law (DFAL), allowed state fees to allow state fees.

    The DFPI is a California regulatory agency that has the task of protecting consumers while monitoring financial services and promoting responsible innovation. Persons and entities carrying crypto business activities in the state will have to get a license from DFPI.

    Only I: The California Assembly approved the bill so that the state could get paid in bitcoin and digital currencies.

    It passed 68-0, and now headed to the Senate. pic.twitter.com/3jwxlpuewh

    – BitCoin Rules (@BitCoin_LoS) June 3, 2025

    If the AB 1180 cleanses the Senate and is signed by Governor GwenNewsom, the bill will be effective on July 1, 2026.

    According to the bill of the bill, the Democratic Assembly Member Evilino Valensia, a pilot program will continue till January 1, 2031, when it will be fully operational.

    If AB 1180 was approved, California may be involved in the choice of Florida, Colorado and Louisiana, who has accepted crypto payment for some responsibilities in recent years.

    The California bill will need to submit a report from DFPI from January 1, 2028, in addition to any technical and disciplinary challenges, all crypto transactions have been processed.

    Under the DFAL, the value of crypto transactions is described as any digital representation used as the middle of the exchange, but it is not a legal tender.

    AB 1180 saw four amendments before going to the California Assembly on June 2.

    The most notable is related to a section that tried to explain the terms related to the riding companies and personal vehicles used for transportation services.

    Even the “Bitcoin Rights” bill at work

    AB 1180 is trying to complete the AB 1052, known as the state’s “Bitcoin Rights” Bill, which focuses on giving crypto self -sufficiency rights for about 40 million inhabitants in the state.

    AB 1052 was approved in the first assembly committee on May 23 in a unanimous 11-0 vote and ordered to read the third.

    Related: California’s Financial Regulator warns 7 new types of crypto, AI scams

    The use of digital financial assets in this bill will also be considered as a valid and legal form of payment in private transactions, and public institutions will be banned from fully banning or taxing digital assets based on their use as a payment.

    BTC map data shows that a total of 117 traders accept Bitcoin payment in California.

    Magazine: Bitcoin Reserve is at risk of US threats by other countries: Samson Mao