Published Oct 14, 2023 08:50PM ET Updated Oct 15, 2023 10:40PM ET
California Governor Gavin Newsom has approved a cryptocurrency bill that enforces stricter regulations on businesses conducting crypto operations, set to begin in July 2025.
In a statement published on Oct. 13, Newsom declared that the bill, titled the Digital Financial Assets Law, will make it mandatory for both individuals and firms to obtain a Department of Financial Protection and Innovation (DFPI) license to engage in digital asset business activities.
California Gov. Newsom greenlights crypto regulation bill for 2025