AB-1052 in California suggests a major protection for bitcoin users and digital assets

The California Association has taken major steps towards organizing the cryptocurrency with the introduction of AB-1052, initially known as the money transfer law.

The draft law – led by Democrat in California Aveneino Valencia, who heads the Banking and Financial Committee – focuses on protecting the users of encoded currency, especially those who seek to maintain control of their digital assets.

AB-1052

According to to update Through Satoshi Action, the prominent non-profit invitation organization, the main provisions of AB-1052 emphasize the right to bitcoin and other digital assets, and protect the ability of individuals to maintain their digital property and manage them without government interference. Meanwhile, the draft law prohibits public agencies from imposing taxes or restrictions only on the use of these assets in transactions.

The draft law also includes measures to ensure the treatment of non -demanded digital property secure by the licensed guardian rather than leaving it to be forgotten. A noticeable addition to the draft law extends the 1974 political reform law to prevent public officials from engaging in transactions or enhancing digital assets. This aims to avoid conflicting interests and maintain the safety of the General Office.

The amendments were made on March 28, after the first February introduction. The draft law is currently in the “office process” and is awaiting its first reading in the gathering.

If a year, the legal framework for AB-1052 will protect the self-need rights for both investors and users in California, with a population of 40 million.

Bitcoin reserve bills gain strength throughout the United States

Many American countries are advancing legislation aimed at integrating bitcoin into state reserves. The data indicates that 95 bills related to bitcoin were proposed in 35 states, with 36 of these bills focus on bitcoin reserves.

Arizona, Akllahoma and Tixas are among the states that have made continuous efforts, as followed by Bitcoin Law Dashboard About the progress of strategic bitcoin reserves (SBR).

SBR bills in Arizona are progressing, with the completion of the first committee and the and time of Chamber 2. Oklahoma and Tixas, on the other hand, are still in the early stages of the legislative process.