California's 'BitLicense' Bill Signed Into Law

California Governor Gavin Newsom signed a 'crypto' licensing bill which is set to take effect in July 2025.

California's 'BitLicense' Bill Signed Into Law
Source: Vitto Sommella.
  • "The law requires California's Department of Financial Protection (DFPI) and Innovation to create a regulatory framework for crypto."
  • "The framework includes a licensing regime and gives the department enforcement and rulemaking authority over the sector."
  • "The DFPI also gets an 18-month implementation period to ensure "the adopted regulatory framework can be thoughtfully tailored to address industry trends and mitigate consumer harm."

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