<ul><li>California is amending the Money Transmission Act to recognize digital assets as legal payment while preventing public officials from issuing, sponsoring, or promoting crypto.</li><li>The amendment aims to provide crypto-self custody rights for the residents of California.</li><li>The proposed bill includes provisions for the recognition of digital assets as a valid form of payment, self-custody rights for residents, and restrictions on public officials.</li><li>California has previously taken steps towards exploring a Bitcoin strategic reserve and has been labeled as the most crypto-inquisitive state in 2022.</li></ul>

California’s Digital Assets Bill Adds ‘Bitcoin Rights’—What It Means for Crypto

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