California launches the bitcoin rights to protect

The California Association officially presented the AB-1052 AB-1052 bill, also known as “Bitcoin Law” on March 30. The draft law has proposed the Chairman of the California Banking and Financial Committee, member of the association, Juan Carillo Valencia.

AB-1052, also known as “Bitcoin Rights Law”

“AB-1052” seeks to provide legal protection for encrypted currency users. The draft law is also a step towards clarifying the rights of self -needs in Bitcoin and other digital assets, and public agencies prohibit imposing taxes or imposing restrictions when using assets to pay. Moreover, the draft law has defined a legal framework for the management of “non -claimed digital assets”, ensuring that these assets are properly held by the guardian who is licensed to avoid uncertainty in real estate management.

The draft law proposes amending the “Political Reform Law of 1974”, which prevents public officials from issuing, sponsoring or strengthening any cryptocurrencies, security or commodity to prevent political influences from obstructing the development of financial technologies.

Moreover, a separate section of the draft law dictates a legal process to address non -demanding digital property. The draft law also guarantees that these unnamed assets be protected by the licensed guardian instead of leaving them in the event of administrative uncertainty.

The Satoshi Fund stated that as soon as it passes, the draft law will provide protection from rights related to digital assets for about 40 million California residents and will act as plans for other regions to reach similar legislation.

We are proud to officially announce that “Bitcoin Rights” was presented at the California Association by the President of Banking and Finance – Member of Parliament Valencia.

Once it passes, about 40 million Americans will have their right to protect the self -body!

The bill also creates … pic.twitter.com/zvlwcm46je

Satoshiaactfund March 29, 2025

“This is an important step forward for Bitcoin and the rights of digital assets. We must ensure that innovative technologies remain within the reach of individuals,” said Dennis Porter, CEO and co -founder of the Satoshi Labor Fund.

Also read: Bitcoin decreased to less than 82 thousand dollars, and raises stagnation?

Written by Rito Lavania

Ritu Lavania is a multi -use Web3 content creator with more than three years experience in the encryption space. It is part of the team in Cryptonewsz, where you write insightful and attractive content. She also contributed to Thecryptotimes and Coin Edition, where her work was well received by the encryption community. Maher in research, creative writing, senior economic officials, and job cooperation, creating content specifically designed for a varied audience. Population of education, devotes time to teaching children and expressing themselves through poetry. It always yearns for learning, constantly exploring new trends in Blockchain origin and digital assets. It strongly believes in telling stories to make complex encryption themes easier and attractive to readers all over the world.