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.
- "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."