Non-profit advocacy group The Consumer Federation of California (CFC) has sponsored a bill seeking to establish a new licensing regime for digital currency service providers operating in the state.
The bill was introduced on the house floor by Assemblymember Timothy Grayson at the end of January. Aimed at preventing losses for Californian digital asset investors, the Digital Financial Assets Law will require virtual currency companies to seek a license with the California Department of Financial Protection and Innovation (DFPI).
Extract from article of coingeek
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