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California Lawmaker Adds Bitcoin and Crypto Rights To Digital Assets Bill

  • A Californian lawmaker has added Bitcoin (BTC) and crypto rights to the amended Assembly Bill 1052 (AB1052) to recognize digital assets as a payment method, secure self-custody, and protect investors.
  • California's Banking and Finance Committee chairman, Avelino Valencia, has added Bitcoin and crypto investors' protections to his digital assets bill.
  • AB1052 aims to secure self-custody rights for California residents, recognize digital assets as a valid payment method, and prevent discrimination and taxation based on digital asset use.
  • The bill also establishes a framework to handle unclaimed digital assets and expands the scope of the Political Reform Act of 1974 to prohibit public officials from promoting digital assets.

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