One of the legislators in California (BTCOIN) and encryption rights added to the amended assembly bill 1052 (AB1052) to recognize digital assets as a means of payment, self -sensitivity, and protection of investors.
California adds Bitcoin rights to the draft digital assets law
The head of the California Banking and Financial Committee, AveNO VALENCIA, added Bitcoin and Crypto Protection to investors to the bill for its digital assets. AB1052, which was initially presented in February, was provided to secure self -friction rights to the state’s residents.
On March 28, the Democratic legislator presented the amended bill, changing its name from the “money transfer law” to “digital assets” and converting its focus to explicitly recognize digital assets as a “valid and legal” method in the special transactions of goods and services.
Amended AB1052. Source: California Legislative Information
In addition, it is prohibited for public entities to restrict or impose taxes on digital assets only based on their use as a means of payment. Support of the Satoshi Fund for the draft law, male“Once approved, this legislation will guarantee approximately 40 million California population the right to friction in their digital origins without fear of discrimination.”
AB1052 also created a framework for dealing with non -demanding digital assets to prevent encryption funds from being lost in “bureaucratic forgetfulness”, as stated by the Satoshi Fund. The legislation notes that the non -demanding property law stipulates that all the unfinished personal property of the state’s Escheats to the state if it is, for more than 3 years after it became worthy or distributed, the apparent owner did not take specific measures that clarify or control the property. “
Accordingly, the draft law will provide that “the intangible property preserved in the calculation of digital assets is heading to the state after 3 years of re -communication or electronic communication to the owner without being returned, or the date of another exercise for ownership interests, as specified, by the owner.”
The legislation will also require a special key holder to calculate the digital assets that have been recruited to the state “to transfer digital assets to a specific guard by the observer. The bill will require observers to appoint a guard no later than January 1, 2027, as specified.”
Finally, “will” expand the scope of the 1974 political reform law to ban a public official from issuing, sponsoring or strengthening digital assets, security or commodity.
American legislators make encryption legislation
In the midst of the ongoing organizational transformation in the United States, with the Securities and Stock Exchange Committee (SEC) taking a less hostile approach to the encryption industry, many countries have provided many invoices related to encryption to develop industry and protect investors.
In addition to the draft law member of Parliament Valencia, California has also witnessed other efforts to create a clear organizational framework in the state.
In February, the legislator in California Tim Gresson foot Senate Bill 97 (SB97) to amend the Digital Financial Assets Law to provide more comprehensive guidelines to agree to the approval of Stablecoin by the Financial Protection and Innovation Commissioner.
As details of Bitcoin laws, the draft law “expands the current evaluation criteria, which already includes examining the source of the source, the origins of salvation, potential risks, and representations about the uses of Stablecoin.”
Meanwhile, Arizona has developed a draft law aimed at expanding the state’s definition of legal giving to include cryptocurrencies, including bitcoin, along with traditional currencies.
The state also leads the encryption legislation with the Bitcoin Strategic Bill (SBR) pending the final vote by the full House of Representatives.
At the time of writing this report, 27 Bitcoin strategic bills in the state were living in the United States, where Oklahoma tied and Takas as the second most advanced state in the legislative process.
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