#AmericanBitcoinLaunch

The California State Assembly has formally introduced AB-1052, a bill that aims to clarify self-custody rights for #Bitcoin and other cryptocurrencies.

The legislation also aims to prevent public institutions from imposing payment restrictions and prohibits public officials from issuing, sponsoring or promoting any digital asset, security or commodity.

The bill, called “Bitcoin Rights,” was introduced by Assemblyman Juan Carrillo Valencia, who chairs the Banking and Finance Committee. The bill’s introduction to the public was confirmed in a statement by the nonprofit advocacy group Satoshi Action Fund on social media platform X.

“We are proud to officially announce the introduction of ‘Bitcoin Rights’ by the Chairman of Banking and Finance in the California Assembly,” said Assemblyman Valencia. “When passed, this legislation will protect the right to self-storage for nearly 40 million Americans!”