The California Assembly passed the Bitcoin payments bill AB 1180 with 60-0 votes
The post The California Assembly passed the Bitcoin payments bill AB 1180 with 60-0 votes appeared on BitcoinEthereumNews.com.
The California State Assembly unanimously passed a bill, AB 1180, on June 4 with 68 votes in favor, allowing the state government to accept Bitcoin and other digital assets as payment methods. The crypto payment bill is now under review by the state Senate. The bill requires the Department of Financial Protection and Innovation (DFPI) to submit a report to the Legislature on or before January 1, 2028. The report should contain the number and value of cryptocurrency transactions processed, the technical and regulatory challenges encountered, and recommendations for payments under other laws and to other state government agencies to be made using digital financial assets. According to official documents, the bill will sunset on July 1, 2031. Crypto payment bill aims to modernize state payment solutions 🇺🇸 JUST IN: California Assembly passes bill to allow the state to receive payments in Bitcoin and digital currencies. It passed 68-0, and now heads to the Senate. pic.twitter.com/3JWXlpuEWh — Bitcoin Laws (@Bitcoin_Laws) June 3, 2025 The legislation establishes the Digital Financial Assets Law (DFAL), which is a licensing and regulatory framework administered by the DFPI for digital financial asset activity. The bill also prohibits an individual from engaging in digital financial asset business activity without a license from DFPI on or after July 1, 2025. Member of the State Assembly Avelino Valencia, who presented the bill, acknowledged that it was a first-of-its-kind initiative. He noted that the AB 1180 bill would establish a pilot program authorizing the Department of Financial Protection and Innovation (DFPI) to allow for the payment of fees using digital finance assets. “Very excited about this. Having gone to school at San Jose State during the time that this technology was being created, I firmly believe this will be fully integrated into our society in the near future.” –…
Filed under: News - @ June 4, 2025 6:25 am