A California lawmaker has amended a bill strengthening self-custody rights for cryptocurrencies.
New Amendments to the Bill
California Assemblyman Avelino Valencia introduced amendments to Assembly Bill 1052, formerly known as the Money Transmission Act. On March 28, 2025, the bill was renamed 'Digital Assets' and enhanced crypto self-custody rights. It aims to legitimize digital assets as a legal form of payment in private transactions and prohibits authorities from restricting or taxing them solely based on payment use.
Legislative and Public Support
Satoshi Action Fund CEO Dennis Porter highlighted California's impact on U.S. policy, noting that its decisions often set the national blueprint. The amendment also garnered support from public organizations such as the Satoshi Action Fund, which noted its symbolic importance on its official Twitter account.
A New Stage for Cryptocurrencies in the USA
The bill is now awaiting its first reading. Meanwhile, there are only 99 merchants in California that accept bitcoins. The state is home to leading crypto firms like Ripple Labs and Solana Labs. On a national level, similar laws have been passed in Texas and Kentucky.
The amendments to the California digital assets bill could set a precedent for other U.S. states and significantly impact national cryptocurrency policy.
