California

The fight against cryptocurrency fraud in the U.S. has made significant progress as California has shut down 26 crypto scam websites, with total losses amounting to $4.6 million in 2024. This move highlights the strong increase in fraudulent schemes, particularly sophisticated tricks targeting cryptocurrency investors.

Crypto Scams Are Becoming More Dangerous

According to a statement from the California Department of Financial Protection and Innovation (

On March 31, 2025, a senator in #California proposed amendments to the Money Transmission Act, paving the way for the protection of the right to use cryptocurrencies as a means of payment and self-custody. With these new provisions, California – the fifth-largest economy in the world – could become a 'paradise' for crypto. Could this be a turning point for the digital asset sector in the U.S.?

From the Money Transmission Act to the Digital Assets Act

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California is joining the growing group of U.S. states experimenting with cryptocurrency for official payments. The State Assembly has overwhelmingly approved Bill AB 1180 with a 68-0 vote. If it passes the Senate, it could allow certain state fees to be paid in digital currencies.

💡 What’s in the Proposal?
The bill, introduced by Democratic lawmaker Avelino Valencia, aims to launch a pilot program enabling selected state agencies to accept crypto payments. Oversight will be provided by the Department of Financial Protection and Innovation (DFPI), which is also tasked with creating new regulatory guidelines under the Digital Financial Assets Law (DFAL).
The goal is to assess the benefits and challenges of using crypto in state payments – from technical functionality to legal compliance.
Valencia stated:
"I’m proud to introduce Bill AB 1180, which brings California closer to a financial future."

🧾 What Happens Next?
If the bill clears the Senate, DFPI will have until January 1, 2028, to deliver a comprehensive report on the program – including transaction data, technical hurdles, and suggestions for broader implementation. The law includes a sunset clause, meaning it will automatically expire in 2031 unless extended.
Unlike earlier failed efforts (such as AB 953 in 2019), this bill is more focused. It specifically targets businesses involved in digital assets, which could improve its chances of success.

🏛 Crypto in Government: The New Normal?
California is not alone. Florida, Colorado, and Louisiana have already rolled out similar crypto initiatives. While most are still in early or limited stages, the trend is clear: cryptocurrencies are steadily entering the public sector.
Currently, around 117 businesses in California accept Bitcoin, and that number continues to grow. The public debate is also heating up, with figures like Donald Trump publicly endorsing state-level Bitcoin reserves.
Meanwhile, states like New Hampshire, Arizona, and Texas have already passed legislation to establish Bitcoin reserves. Others, such as Florida, South Dakota, and Wyoming, have rejected such proposals.

💬 Interesting Times Ahead
With the U.S. national debt ballooning, Coinbase CEO Brian Armstrong recently warned that Bitcoin could become the next global reserve currency – especially if the U.S. continues to erode trust in the dollar.

#California , #crypto , #CryptoPayments , #DigitalAssets , #Regulation

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Southern California is facing historic wildfires, devastating tens of thousands of acres and forcing over 100,000 residents to evacuate. Among them, the Los Angeles area, which is home to many crypto companies, is severely affected.

Widespread Wildfires Cause Significant Damage

The fires are driven by strong winds and prolonged drought:

• Pacific Palisades Fire: Erupted in Santa Monica and Malibu, burning down over 1,000 structures.

In a significant move for crypto adoption in the United States, the California State Assembly has unanimously passed Assembly Bill AB 1180, which would enable digital assets — including Bitcoin — to be used for paying government fees and services. All 68 lawmakers present voted in favor, with zero opposition. The bill now moves to the State Senate for further consideration.

🧾 What Does AB 1180 Introduce?
The bill authorizes California’s Department of Financial Protection and Innovation (DFPI) to develop regulations allowing the use of cryptocurrency for payments within state operations. This pilot program is part of a broader legal framework concerning digital financial assets (DFAL – Digital Financial Assets Law).
In practice, any individual or business operating crypto-related services in California would need to obtain a license from DFPI, which will also be responsible for ensuring consumer protection in crypto-based transactions.

🏛️ California Aiming to Lead in Crypto Regulation
The bill was introduced by Assemblymember Avelino Valencia, who called the initiative a “first-of-its-kind” pilot program. According to Valencia, the law could serve as a model for other U.S. states. He stated:
“I’m proud to introduce AB 1180, which authorizes the Department to test accepting payments through digital assets. It’s a major step toward the future of finance.”

🕐 When Will It Take Effect?
If the California Senate approves the bill and it is signed by Governor Gavin Newsom, the law is set to go into effect on July 1, 2026. The bill has already received backing from the California Blockchain Advocacy Coalition, which sees it as a crucial move toward modern and transparent state governance.

🌍 California Joins a Growing Trend
With this initiative, California would join other states such as Colorado, Florida, and Louisiana, which have already implemented crypto payments for taxes or other official fees. Internationally, jurisdictions like the United Arab Emirates are also actively embracing cryptocurrency-based government transactions.
The bill also aligns with California’s broader “Bitcoin Rights” agenda, which aims to guarantee residents the right to own and use digital assets independently — promoting financial sovereignty through technology.

📌 Meanwhile, Federal Crypto Regulation Is Advancing
At the federal level, efforts continue to clarify U.S. crypto regulation. A revised version of the Digital Asset Market Structure bill was reintroduced on May 29 during a session in the U.S. House of Representatives. The bill aims to establish clear rules and a national framework for digital assets across the country.

#California , #bitcoin , #CryptoPayments , #CryptoNewss , #BTC

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“