California Governor Newsom Greenlights Crypto Regulation Bill for 2025

THE Invoice will mandate cryptocurrency companies has join has Licence requirements, maintain financial Recordings, And provide regulators with THE authority has to drive audits.

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California Governor Gavin Newsom has approved A cryptocurrency Invoice that applied more strict regulations on companies conduct crypto the operations, together has to start In 18 month.

In A statement published on October 13, Newsom declared that THE Invoice title THE 'Digital Financial Assets Law", will TO DO he OBLIGATORY For both people And companies has get A Department of Financial protection And Innovation (DFPI) Licence has to commit In digital active business activities.

California Governor Gavin Newsom signature message, October 13. Source: CA.gov

THE Invoice East program has come In effect on July 1, 2025.

In legislation documents, it draws A comparison has from California money transmission laws, which to forbid banking And transfer services Since Operating without A Licence granted by THE DFPI Commissioner.

However, THE new crypto Invoice will allow THE DFPI has impose strict Audit requirements on crypto companies as GOOD as force them has defend registration requirements. THE statement noted:

"[This Invoice] would be require A licensed has maintain [...] For 5 years After THE date of THE activity, certain Recordings, including A general register maintained has less monthly that lists all assets, Liabilities, capital, income, And expenses of THE license holder. »

He further clarifies that companies not conform with THE Invoice will confront enforcement measurements.

Around This time last year, Newsom